Property Summary: 1861 Ross Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1950 on a standard residential lot in Brooklands. Its key characteristic is its scale: with 612 sqft of living space, it is a notably compact home, ranking in the smallest 4% of properties citywide. The lot size of 3,894 sqft is typical for the local area. The home has a basement, but it is not renovated, and there is no garage or pool.
The primary appeal lies in its affordability and land value within a mature neighbourhood. The very low assessed and recent sale values indicate this is an entry-point property. It would suit a specific type of buyer: a hands-on investor looking for a rental property with a low acquisition cost, or a very budget-conscious first-time buyer willing to live in a small, unrenovated space while potentially planning for a future expansion or rebuild. The lot itself represents the core long-term value, offering possibilities for redevelopment or addition, subject to local zoning. This isn't a move-in-ready family home, but a practical asset for those with a clear vision and modest immediate needs.
Section 2: Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
At 612 sqft, this home is significantly more compact than most in the area. This is reflective of its original 1950s build and is the main driver behind its lower valuation, presenting either a constraint or a redevelopment opportunity.
2. What does "around average" for the assessed value on the street mean?
While the assessed value is typical for Ross Avenue W, it's crucial to note that values on this street are well below the Winnipeg average. This indicates the street and immediate area are more affordable compared to the broader city market.
3. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should assume it is in a rough, unfinished state and budget accordingly for any potential development or utility.
4. Who might this property not be suitable for?
It would likely not suit families needing multiple bedrooms, anyone seeking a turn-key or modernized home, or buyers who require garage parking or significant indoor space.
5. The lot seems a good size relative to the house. What does that imply?
The lot is standard for the neighbourhood but generous relative to the small footprint of the house. This disproportion highlights the property's potential. The value is weighted toward the land, suggesting future viability for a significant renovation, an addition, or even a full rebuild (subject to municipal regulations).