Property score
How it stacks up
Detailed ranking analysis ▼
Street Level (Pembina Highway): Below Average. Ranked #1,032 out of 1,121 (Bottom 8%). The street average for comparable homes is 1,031 sqft.
Neighborhood Level (Fort Richmond): Below Average. Ranked #558 out of 653 (Bottom 15%). The neighborhood average for comparable homes is 894 sqft.
Citywide Level (Winnipeg): Below Average. Ranked #23,615 out of 26,841 (Bottom 12%). The citywide average for comparable homes is 1,042 sqft.
Street Level (Pembina Highway): Below Average. Ranked #1,043 out of 1,121 (Bottom 7%). The street average for comparable homes is 221.4k.
Neighborhood Level (Fort Richmond): Below Average. Ranked #574 out of 653 (Bottom 12%). The neighborhood average for comparable homes is 185.3k.
Citywide Level (Winnipeg): Below Average. Ranked #25,214 out of 26,841 (Bottom 6%). The citywide average for comparable homes is 276.9k.
Street Level (Pembina Highway): Below Average. Ranked #937 out of 1,121 (Bottom 16%). The street average for comparable homes is 1987.
Neighborhood Level (Fort Richmond): Below Average. Ranked #444 out of 653 (Bottom 32%). The neighborhood average for comparable homes is 1980.
Citywide Level (Winnipeg): Below Average. Ranked #20,301 out of 26,841 (Bottom 24%). The citywide average for comparable homes is 1990.
Fort Richmond market pulse
How to read: Share of sales in each ~$50k price band for “fort richmond” (Condos, 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
- Exact sold prices
- Detailed market analysis
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- Neighbourhood insights
- Recent sold count in the area
Who lives in this neighbourhood
Transit, amenities & safety
Nearby Amenities
412-3000 Pembina Highway — 35 amenities found within 500 m, across 8 categories, including 17 dining (nearest 159 m), 2 healthcare (nearest 154 m), 6 shopping (nearest 191 m).
Crime & safety
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Is this home right for you?
Property Overview
This is a 685 sqft condo unit built in 1974, located at 412-3000 Pembina Highway in Winnipeg's Fort Richmond neighbourhood. Its key characteristics are its compact size and notably low municipal assessed value ($12,900), which places it in the bottom 10-15% of comparable properties across the city. The unit is part of a larger, well-established building complex directly on Pembina Highway.
Section 1: Key Characteristics & Appeal
The primary appeal of this property is its exceptional affordability and straightforward utility. It represents a very low barrier to entry into the Winnipeg housing market, particularly for the Fort Richmond area near the University of Manitoba. The condo fees (not listed in the provided data but typical for such a building) would be a critical factor in the total monthly cost.
Its compact size suits a minimalist lifestyle and would involve lower utility costs. The location on a major transit corridor offers convenience for commuters or students, though it may come with more traffic noise than a side street.
This unit would best suit a specific type of buyer: a first-time purchaser or an investor seeking a basic, no-frills rental property focused on cash flow rather than appreciation. It could also appeal to a downsizer seeking the simplest possible holding. It is less suited for those needing space, modern finishes, or for whom a very low assessed value might indicate significant building age or deferred maintenance considerations that warrant investigation.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other condos?
A low assessed value typically reflects the unit's smaller size, the building's age (1974), and its market position relative to newer or renovated buildings. It's a key indicator of its affordability but also suggests it is a baseline, no-frills property.
2. What are the monthly condo fees, and what do they include?
This is the most crucial question not answered in the provided data. The fees could significantly impact the total cost of ownership and their reasonableness in relation to the unit's value and what they cover (heat, water, building insurance, reserve fund contributions) must be verified.
3. How does traffic noise from Pembina Highway affect the unit?
Being directly on a major highway ensures excellent transit access but likely means constant traffic noise. Asking about the unit's orientation (front vs. back of building) and window quality is essential for gauging livability.
4. What is the financial health of the condo corporation?
Given the building's age, the status of the reserve fund and whether any special assessments are planned or underway is vital. A healthy fund is critical for managing repairs in an older building without unexpected costs to owners.
5. Is this a good investment for a rental property?
Its low entry price could make for a positive cash flow scenario if rental demand in the area is strong, especially from students. However, potential investors must weigh the condo fees, building condition, and management against the expected rental income to calculate true profitability.