Property Overview & Key Characteristics
This is a classic one-storey home on a generous, approximately 3,900 sqft lot in Winnipeg's Brooklands neighbourhood. Built in 1910, its primary appeal lies in its land value and potential. The living space is compact at 675 sqft and features an unrenovated basement and a detached garage. The home last sold in 2021 for $150,000, with a current assessed value significantly lower, which may indicate an opportunity for a value-based purchase.
Its core appeal is for buyers looking for a land play or a foundational project. It suits an investor seeking a rental property with future redevelopment potential, a handy homeowner willing to tackle gradual renovations, or a buyer prioritizing lot size over immediate move-in condition. A thoughtful perspective is that its older character, while requiring updates, offers a tangible connection to the city's history that newer homes cannot replicate. It represents an entry point into the market where the value is anchored more in the property itself than in the existing structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sale price?
Assessed values for municipal tax purposes often lag behind market sales and are calculated using mass appraisal techniques. A significant gap can sometimes reflect the home's condition or specific market factors at the time of the last sale, and it's essential to get a current market evaluation.
2. What are the implications of the "unrenovated" basement?
This typically means the basement is in original or utilitarian condition, likely lacking modern finishes and possibly having moisture control or insulation considerations. It should be inspected thoroughly, but it also presents a blank canvas for future development.
3. How does the lot size compare to others?
The lot is larger than average for both Ross Avenue West and the broader Brooklands area, ranking in the top third locally. This is a key asset, providing more outdoor space and potential for additions or landscaping than many neighbouring properties.
4. Is the age of the home (1910) a concern?
While it offers charm, a home of this age will likely have older building systems, materials, and insulation standards. A specialized inspection is highly recommended to understand the condition of the foundation, wiring, plumbing, and structure.
5. Who would this property not be suitable for?
It is likely not a match for buyers seeking a modern, low-maintenance, or immediately turnkey home. The compact living area and need for updates also make it less ideal for those requiring significant space or who cannot manage a project.