Property Overview
This 725 sqft condo at 212-3030 Pembina Highway in Fort Richmond is a practical, no-frills property built in 1977. Its key appeal lies in its affordability, as reflected in its significantly below-average assessed value compared to similar homes on Pembina Highway, in the neighbourhood, and citywide. The living space is also modest, ranking below the average for comparable units. This creates a clear value proposition: it is a lower-cost entry point into the Winnipeg condo market, particularly in a well-located area like Fort Richmond with access to major transit and amenities along Pembina Highway.
The unit would suit first-time buyers or investors seeking a straightforward, budget-conscious purchase. It’s less suited for those prioritizing modern builds or spacious interiors. A thoughtful perspective is that while the unit itself is modest, its building is older than many in Fort Richmond but newer than many on Pembina Highway overall, potentially indicating a well-maintained structure from that era. Its low carrying costs could also appeal to buyers looking to minimize monthly expenses.
Frequently Asked Questions
1. Why is the assessed value so much lower than the average?
The assessed value is consistently in the bottom 10-15% when compared to similar properties. This is typically due to a combination of its smaller size (725 sqft), the building's age, and potentially the unit's specific condition or layout.
2. What are the pros and cons of a 1977-built condo?
Pros can include thicker walls, larger room proportions, and mature, established building management. Cons may involve older building systems (like plumbing or electrical) that could require updates, and potentially higher maintenance fees if major renovations are underway.
3. Who manages the building, and what are the condo fees?
This information is not provided in the public data. A buyer must review the condo corporation's status certificate, which details the property manager, monthly fees, reserve fund, and any pending special assessments.
4. How does the sold price history work?
The listed sold price (e.g., $11.5k–$14.5k in 8/2020) is a range based on public data. To obtain the exact sale price, you must request it directly from the listing service via the provided email link, as per their policy.
5. Is the noise from Pembina Highway a concern?
Given the address is directly on Pembina Highway, some traffic noise is likely. The impact would depend on the unit's placement within the building (e.g., facing away from the road, higher floor) and the quality of the windows. This is a key point to investigate during a viewing.