232-500 Cathcart Street

Property Overview: 232-500 Cathcart Street, Winnipeg

Key Characteristics & Appeal

This is a well-maintained, modern condo unit in Elmhurst, built in 2000. With 1,092 sqft of living space, it offers a practical layout for comfortable living. The property’s standout feature is its exceptional competitive positioning within its immediate area. It ranks in the top 1% of homes on its street for size and is newer than 99% of its street neighbors. This suggests a unit that is both relatively spacious and contemporary compared to most options in the direct vicinity.

Its appeal lies in offering modern convenience and a strong value proposition within a specific location. The 2020 sale price of $200,000, below the current $220,000 assessed value, provides a recent market benchmark. It suits a pragmatic buyer—perhaps a first-time homeowner, a downsizer, or an investor—who prioritizes a move-in-ready, modern property in Winnipeg without the maintenance demands of a house. The less obvious perspective is that while its rankings are stellar on its street and in Elmhurst, its city-wide rankings for size and assessed value are more moderate. This indicates a property that is a top-tier option within its local micro-market, which can be a smart strategic purchase, but may not represent the same standout metrics compared to the entire city.

Frequently Asked Questions

1. What do the ranking percentages actually mean?
They show how this property compares to others in three geographic circles. For example, being newer than 99% of homes on its street means it’s one of the most modern buildings in the immediate area, which can be a significant advantage for maintenance and systems.

2. Why is the assessed value higher than the last sale price?
The 2020 sale provides a concrete historical data point. The current assessed value of $220,000 reflects the municipal assessment for taxation purposes, which may incorporate broader market trends and adjustments since the last sale. It’s a useful data point but not a guaranteed selling price.

3. Who would this property not suit?
It may not suit buyers seeking a large yard, a garage, or a brand-new build. Its city-wide rankings indicate that while it’s a leading option locally, buyers whose search area is the entire Winnipeg may find properties with larger square footage or lower assessed values in other neighborhoods.

4. How significant is the lack of a basement?
This means all living and storage space is on the main levels. It simplifies maintenance (no basement moisture concerns) but requires thoughtful organization for storage. It’s a trade-off that appeals to those seeking a low-maintenance lifestyle.

5. What is the significance of the “超越100%” community ranking?
Ranking above 100% of homes in Elmhurst for size likely means it is the largest or tied for the largest unit in the community dataset. This is a strong indicator of superior interior space within this specific neighborhood context.