219-500 Cathcart Street

Property Summary: 219-500 Cathcart Street, Winnipeg

Key Characteristics & Appeal

This is a well-maintained, second-floor condominium built in 2000, offering a practical and modern living space of just over 1,000 square feet. Its primary appeal lies in its exceptional competitive standing within its immediate area. The unit ranks in the top 1% of its street and top 3% of the Elmhurst community for its newer build year, meaning it is notably more modern than most surrounding homes. This is a significant advantage for buyers seeking a low-maintenance, contemporary residence without the concerns of an older building.

The property suits first-time buyers, downsizers, or investors looking for a turnkey, move-in-ready condo. Its recent sale in January 2025 for $245,000, above its $220,000 assessed value, suggests a strong and current market valuation. While the unit's size and price are modest relative to the broader Winnipeg market, its standout feature is its relative newness and high ranking within its specific locale. It offers a chance to own one of the newest properties on the block and in the neighborhood, which can translate to fewer immediate repairs and a modern floorplan. A thoughtful perspective is that this represents value through relative quality rather than sheer size or luxury—it’s a competitively superior option within its specific market tier.

Frequently Asked Questions

1. What are the monthly condo fees, and what do they cover?
This information is not provided in the current listing details. A direct inquiry with the property manager or listing agent is essential to obtain the fee amount and a detailed breakdown of included utilities, maintenance, and reserve fund contributions.

2. Is this a pet-friendly building?
The property details do not specify pet policies. Any restrictions on pets, including size, breed, or number, must be confirmed with the condominium corporation's bylaws.

3. Why did it sell for more than its assessed value?
The recent sale price of $245,000 likely reflects current market conditions and buyer demand for a modern, well-ranked unit. Property assessments are for taxation purposes and can lag behind actual market values, especially for homes that are newer than most comparables in the area.

4. What does the "top 1%" ranking for the street actually mean?
This statistical ranking indicates that, based on its build year (2000), this unit is newer than 99% of the other 258 properties on its street. It’s a metric of its relative modernity within a very specific geographic comparison.

5. Are there any amenities like in-suite laundry or a parking spot?
The basic information provided does not list specific amenities. Key details like in-suite laundry, assigned parking (surface or underground), or storage lockers are crucial to clarify, as they significantly impact daily convenience and value.