Is a $179,900 renovated corner condo in Osborne Village a smart buy for a first-time home buyer or an investor in Winnipeg?

For many buyers, yes. Suite 511 at 71 Roslyn Road is a fully renovated, turnkey one-bedroom corner unit with south and west windows, a private balcony, a parking stall and a storage locker, priced well below Winnipeg's record condo average. You could buy it with about $8,995 down as your home, or about $35,980 down as a rental.

Why This Osborne Village Condo Works for a First-Time Home Buyer in Winnipeg

If you're a first-time home buyer in Winnipeg, you're probably weighing three things: what it costs, how much work it needs, and whether you'll love living there. Here's how this one lines up:

Fully renovated and move-in ready. No reno budget, no contractor schedule. You get the keys and start living.
Corner unit, two exposures. Windows facing south and west mean sunlight through the day, with the tree canopy as your view.
Treetop balcony. On the 5th floor, your private balcony sits right at treetop height, a leafy spot above the neighbourhood for morning coffee or a summer evening.
659 sq. ft. with a smart layout. A kitchen, a separate dining area, a living room of about 13'9" x 12', and a bedroom of about 10'3" x 13'3".
Parking and storage included. Your own parking stall and storage locker, two things that are not a given in Osborne Village.

As a Winnipeg REALTOR®, I work with plenty of buyers who are ready to stop renting but don't want a full house with a roof, a yard and a driveway to shovel. A condo like this lets you start building equity in one of the city's most walkable neighbourhoods without that added workload.

Affordability: What It Takes to Own at $179,900

At a list price of $179,900, here's what the down payment looks like:

Your plan Down payment Amount

Living in it (first-time buyer) 5% $8,995

Buying it as a rental 20% $35,980

If you plan to live in it, you may qualify with as little as 5% down. With less than 20% down, mortgage default insurance applies, and the premium is typically added to your mortgage.

If you're buying it as a rental, plan on at least 20% down.

Here are the other costs to factor in:

Condo fees: $402 per month
Annual property taxes: $2,560.87

To see your exact monthly payment, talk to a mortgage professional of your choice and get pre-approved before you start booking showings.

Priced Well Below Winnipeg's Record Condo Average

Here's where this listing really stands out. According to the Winnipeg Regional Real Estate Board (WRREB), the year-to-date average condo price through August 2026 was $288,834, the highest on record, up 3% from last year and 5% above the five-year average.

At $179,900, this suite is priced about 38% below that average. For a fully renovated corner unit with parking and storage in Osborne Village, that's a rare entry point.

Stability in the Winnipeg Market

If you're buying your first home or your first investment property, you want a market that behaves predictably. Winnipeg has a long track record of steady, measured growth rather than dramatic booms and busts.

The 2026 numbers reflect that:

Record condo prices, with modest growth. Condo average prices hit new highs this year while rising a moderate 3% year over year.
July set a monthly record. WRREB reported a record July average condo price of $290,522, up 2% from July 2025.
Steady activity. Through August, Winnipeg recorded 10,086 total MLS® sales.

For you, that means you're buying into a market where values have held up and grown gradually. It's not a guarantee of future performance, but it's the kind of backdrop that makes long-term planning easier.

Life in Osborne Village

Osborne Village is one of Winnipeg's best-known neighbourhoods, and Penthouse Towers is one of its most sought-after riverside addresses. From your front door, you're just steps from:

The Assiniboine Riverwalk, for walks, runs and bike rides along the water
Osborne Village's shops, cafés and restaurants, all within walking distance
Downtown Winnipeg, a short trip for work or nights out
The Forks, with its market, events and riverside paths

You're also close to public transit, so getting around the city without a car is easy if that's your preference.

Inside Penthouse Towers

Built in 1969, Penthouse Towers is an established building in the River-Osborne area. Along with your parking stall and storage locker, you'll have access to:

Secure entry
Elevator access
On-site laundry
A no-smoking suite

The unit also comes with a dishwasher, microwave, refrigerator, stove, blinds and a window air conditioner, so you're set up from day one.

Is This a Good Investment Property in Winnipeg?

If you're looking for an investment property in Winnipeg, this condo checks several boxes:

Accessible entry point. At $179,900, your 20% down payment is about $35,980.
Turnkey condition. A full renovation means fewer surprises and less downtime before your first tenant.
Location renters look for. Walkable access to the Riverwalk, Osborne Village, downtown and The Forks, with transit nearby.
Parking and storage. Features that help your unit compete in a neighbourhood where they're not always available.
A stable market. Winnipeg's steady, record-setting condo prices support long-term planning.
Rental bylaws. Every condo corporation has its own leasing rules. I'll help you review them before you commit.

As with any investment, run your own numbers on expected rent, condo fees, taxes and financing before you decide.

The Takeaway

Whether you're a first-time home buyer in Winnipeg ready to own with about $8,995 down, or an investor looking for a turnkey investment property in Winnipeg, Suite 511 at 71 Roslyn Road delivers: a fully renovated corner unit with south and west light, a treetop balcony, parking and storage, and an Osborne Village address steps from the Riverwalk, all priced well below the city's record condo average in a market known for its stability.

Book Your Private Showing

Want to see this treetop corner suite in person? Reach out to me, Nicole Hacault, your Winnipeg REALTOR®, at 204-333-7648 or through yourwinnipegrealtor.com to book a private showing at 71 Roslyn Road. I'll walk you through the unit, the condo documents, and what owning in Osborne Village could look like for you.

Nicole Hacault, Winnipeg REALTOR® Royal LePage Top Producers Real Estate MLS® #202622965

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