1858 Ross Avenue W

Property Overview: 1858 Ross Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, century-old home (built 1910) in Brooklands, presenting primarily as a land value proposition. The 946 sqft, one-and-a-half-storey house sits on a 2,596 sqft lot. Its key characteristic is its exceptionally low assessed value, which is well below city and neighbourhood averages. The appeal lies in its potential as an affordable entry point into the Winnipeg market, a knockdown-and-rebuild opportunity, or a long-term land investment. The lot size, while below average for the immediate street, is manageable and typical for the area.

This property would suit a specific type of buyer: investors or builders looking for land value, handy individuals or contractors seeking a low-cost project with a focus on future equity rather than immediate move-in condition, or first-time buyers with a very tight budget who are prepared for significant renovations. Its value is not in its current state or size, but in its underlying land and the possibilities that its low price point unlocks.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than other homes?
The assessed value reflects the property's current state, age, and characteristics. A very low assessment typically indicates a home that requires major updates or is considered a tear-down, with the value tied largely to the land itself.

2. What does the "Top 94%" ranking for land area on the street mean?
It means this property's lot is smaller than 94% of the lots on Ross Avenue W. Essentially, it's one of the smaller lots on the street, which is a consideration for future expansion or rebuilding plans.

3. Is this a move-in ready home?
Given its age (116 years), very low assessed value, and sale history, it is highly unlikely to be move-in ready. Buyers should budget for and anticipate significant repairs, systems updates, or a complete rebuild.

4. What are the implications of buying such an old house?
A home built in 1910 may have outdated wiring, plumbing, and insulation. While it carries character, it also comes with the potential for higher maintenance costs and the need for modernization to meet current living standards and energy efficiency.

5. Could this be a good rental property in its current state?
It is improbable without substantial investment. To be legally rentable and competitive, the property would likely require major renovations to meet safety, health, and rental standards, negating the initial low-cost advantage.