405-311 Hargrave Street

Property Overview: 405-311 Hargrave Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, modern condo unit in Winnipeg's Portage-Ellice area. Its primary appeal lies in being a relatively new build (2016) within an older building context, offering a low-maintenance lifestyle in a central location.

• Key Characteristics: The unit is 502 sqft, which is notably smaller than average for the city, neighborhood, and even its own street. However, its assessed value of $197k is significantly below local averages, presenting a more accessible price point. The data shows it sold most recently in late 2023.
• Where its Appeal Lies: The standout feature is its age. It ranks as one of the newest, if not the newest, comparable unit on its street and in the immediate neighborhood, suggesting fewer immediate concerns about outdated systems or major repairs common in older builds. Its value is also closer to the Winnipeg citywide average, indicating it may be priced efficiently for a newer unit in this location.
• Ideal Buyer Profile: This property suits first-time buyers or investors seeking a modern, entry-level condo with lower carrying costs. It would also appeal to those prioritizing a newer building infrastructure over square footage. The price point is its main advantage, making it a practical choice for budget-conscious buyers who value contemporary construction in an established area.

Section 2: Frequently Asked Questions

1. Is this unit unusually small?
Yes. At 502 sqft, its living area is below average for the street, neighborhood, and significantly below the Winnipeg city average. This confirms it is a compact unit, efficient for one or two people.

2. Why is the assessed value lower than the neighborhood average?
The assessed value of $197k is below the local averages (around $248k). This is likely due to its smaller size, but it brings the purchase price into a more accessible range compared to other units in the area.

3. How does the building's age compare to others?
This is a key strength. Built in 2016, it ranks in the top 1% for year built on its street and in Portage-Ellice. You are buying one of the newest units in the immediate vicinity, which can mean modern building standards and materials.

4. What does the sale history indicate?
The unit has sold three times since 2017, most recently in late 2023. The sale price percentiles have varied, but the pattern shows consistent market activity. For exact historical sale prices, you must request the figures directly from the site via email, as they are not publicly displayed in detail.

5. Are there many identical units in the building?
The listing shows several other units at the same address (311 Hargrave Street) with different suite numbers, indicating this is a larger condo building or complex with many similar properties, which is useful for comparing value.