103-565 Corydon Avenue

Property Overview & Key Characteristics

This unit at 103-565 Corydon Avenue is a compact, 880 sqft property built in 1960. Its primary appeal lies in its exceptional location within the McMillan neighbourhood. The data indicates it ranks in the top 1% of properties on its street and the top 0% within both the neighbourhood and the entire city of Winnipeg for its area, suggesting a highly desirable and well-situated address, likely close to the vibrant Corydon Avenue strip.

With a very low assessed value ($18.1k) and a modest living area, this property represents an accessible entry point into a premier area. It suits buyers with a clear priority on location over space, such as first-time investors looking for a rental property in a high-demand area, a minimalist or single professional seeking a low-cost foothold in a walkable community, or someone looking to downsize without leaving a sought-after neighbourhood. The 2017 sale price of $19.2k suggests a stable, low-value market for this specific type of unit.

Frequently Asked Questions

1. What does the "top 1% in same street" ranking actually mean?
This ranking is based on the property's land area. It means that within the specific group of properties on Corydon Avenue used for comparison, this unit's parcel ranks very highly. This typically points to a shared or advantageous land arrangement common in condo or co-op structures, contributing to its value.

2. Why is the assessed value so much lower than nearby houses?
The listed comparable houses (e.g., on Gertrude Ave, Wellington Cres) are standalone properties with significantly larger square footage. This unit is likely a condo, apartment, or similar shared-building title, where you own the interior space only, resulting in a proportionally lower property assessment.

3. Who is responsible for exterior maintenance and major repairs?
Given the building type and assessed value structure, this is almost certainly a property within a managed corporation or condo association. A monthly fee would cover exterior maintenance, roof repairs, common area upkeep, and likely some utilities.

4. Is this a good investment property?
Its low entry cost and top-tier location make it a candidate for a rental investment. However, potential returns depend heavily on the monthly condo/association fees, rental bylaws within the building, and current market rents for small units in the area. Due diligence on these fees and rules is essential.

5. What are the less obvious trade-offs of such a high location ranking?
While the location is premier, the 880 sqft size is below the neighbourhood average. You are trading space for place. Additionally, a 1960s build may come with older building systems, and living on a major avenue like Corydon could mean dealing with more street noise and activity compared to a quiet residential side street.