227-500 Cathcart Street

Property Summary for 227-500 Cathcart Street, Winnipeg

Key Characteristics & Appeal

This is a well-maintained condo unit in the Elmhurst area, built in 2000. Its primary appeal lies in its exceptional relative standing within its immediate surroundings. The property ranks in the top 1% of its street and top 3% of its neighborhood for its modern build year, indicating it is a newer construction compared to most nearby homes. With just over 1,100 square feet of living space, it offers practical, mid-sized condo living.

The unit would particularly suit first-time buyers or downsizers seeking a low-maintenance lifestyle without the responsibilities of a yard or exterior upkeep. Its strong rankings suggest a desirable and stable building within a mature community. A thoughtful perspective for a buyer is to consider the value beyond the square footage; the high percentile rankings for age and location point to intangible benefits like building integrity and neighborhood appeal that may not be fully captured by the assessed value alone. The lack of a garage or basement is a trade-off for the simplicity of condo living, making it ideal for those prioritizing ease over storage or workshop space.

Frequently Asked Questions

1. What do the percentile rankings actually mean?
They show how this property compares to others in the area. For example, ranking in the top 1% for build year on its street means it is newer than 99% of the other homes on Cathcart Street.

2. Why is the assessed value ranking lower than the rankings for age and size?
Property assessments are based on many factors, including recent sales. A lower ranking in value compared to its physical characteristics could indicate a potentially attractive entry point relative to similar, newer properties in the area.

3. What is included in the condo fees, and what are the rules?
This information is not provided in the public listing. A buyer must review the condo corporation's status certificate, which details monthly fee inclusions, reserve fund health, and bylaws (e.g., pet policies, rental restrictions).

4. Is the "no basement" a significant drawback?
It depends on your needs. It eliminates storage or renovation potential found in some townhouse-style condos, but also means no maintenance concerns like moisture or flooding, aligning with a true lock-and-leave lifestyle.

5. The street ranking is very high, but the community ranking for size is lower. Why?
This suggests Cathcart Street may have many older, smaller homes, making this unit stand out. The broader Elmhurst community likely includes a wider variety of larger single-family homes, which is why the unit's size ranking is more average in that larger comparison.