Property Overview: 120-500 Cathcart Street, Winnipeg

Key Characteristics & Appeal

This condominium at 120-500 Cathcart Street in Elmhurst presents a compelling option for specific buyers. Its primary appeal lies in its strong relative standing within its immediate surroundings. The property ranks in the top 1% of homes on its street and even higher within its neighborhood and the wider city for overall size comparison, indicating a well-above-average unit for the area. Built in 2000, it is also a relatively modern build, ranking newer than 99% of properties on its street.

With 1,086 square feet of living space, it offers a practical footprint. The condo’s assessed value positions it as a more accessible entry point within the Winnipeg market. This combination suggests a property that delivers solid space and modernity for its price tier, particularly when compared to its direct neighbors. It would likely suit a first-time buyer, a downsizer seeking a manageable yet spacious layout, or an investor looking for a modern unit in a well-established area. The absence of a basement or garage points to a lock-and-leave lifestyle with lower maintenance, which is a key trade-off for its affordability and convenience.

Frequently Asked Questions

1. What does the ranking data actually mean for a buyer?
The rankings show this condo outperforms most comparable homes on its street and in Elmhurst in key categories like size and age. This suggests you are getting a relatively spacious and modern unit for that specific locale, which can be a marker of good value and future resale appeal within the micro-market.

2. Is the lack of a basement or garage a significant drawback?
This depends on lifestyle. It means very low maintenance and a true lock-and-leave convenience, which many buyers prioritize. However, it requires planning for seasonal item storage (like tires or outdoor gear) and means all living and storage space is contained on one level.

3. The assessed value seems low relative to the city. Is that a concern?
Not necessarily. The assessment is for municipal tax purposes and is heavily influenced by the specific condo complex and area. Its ranking shows it's valued typically for its community. The more telling data is its strong rank for size and age on its street, indicating its features are superior to most direct neighbors.

4. Who would this property NOT be suitable for?
It would likely not suit someone requiring extensive private storage, a workshop space, or dedicated parking (beyond possibly a surface lot spot, which should be verified). Families needing multiple defined living areas or separation of space might find the single-level layout limiting.

5. How important is the building's 2000 construction year?
Built 26 years ago, it strikes a balance. It’s modern enough to likely have contemporary building standards and materials, avoiding some concerns of much older builds, yet it’s established enough that any significant building envelope or system issues should have been identified and addressed by the condominium corporation. Reviewing the condo's reserve fund study is essential.