Property Overview: 1863 Ross Avenue W, Brooklands, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1950 on a standard city lot in Winnipeg's Brooklands neighbourhood. Its key characteristic is its land value: the 3,894 sqft lot is larger than many in the immediate area and represents the primary asset. The home itself is compact at 765 sqft of living space, which is below average for the street and city. There is no basement, pool, or garage.
The appeal lies in its position as an affordable entry point, likely suited for land value or redevelopment potential. It is not a move-in-ready family home but a practical investment opportunity. The most recent sale price was exceptionally low, suggesting it may require significant renovation or is purchased for its lot.
This property would suit a specific type of buyer: a hands-on renovator looking for a footprint to expand, an investor considering future redevelopment in a transitioning area, or a buyer seeking the absolute lowest price point to enter the market, accepting the work required. Its value is in what it could become, not in its current state.
Section 2: Frequently Asked Questions
1. Why was the 2024 sale price so much lower than the 2019 price?
Such a significant drop typically indicates a change in the property's condition or circumstances, not just market fluctuation. It often points to the home being purchased "as-is," potentially for land value or major renovation, rather than as a habitable dwelling.
2. What does "no basement" mean for this home?
It means all mechanical systems (furnace, water heater) and living space are on the main floor. This can limit storage and potential for extra bedrooms or a suite, but it also eliminates concerns about basement moisture or flooding.
3. How does the lot size compare to newer homes?
At nearly 3,900 sqft, the lot is above average for its Brooklands street. Many newer suburban lots are narrower and deeper, but this lot size is still very workable and offers good outdoor space or expansion potential relative to the home's small footprint.
4. Is the low assessed value a good sign?
It reflects the city's valuation of the property in its current state, which is low. For a buyer, this means lower property taxes now. However, any significant improvement or rebuild will trigger a reassessment and higher taxes in the future.
5. What should I consider about the neighbourhood?
Brooklands is an established, no-frills neighbourhood. The appeal here is affordability and location relative to major routes. It's wise to research community plans or recent development trends on the street to gauge its long-term trajectory.