Property Overview & Key Characteristics
This 1910-built, one-storey home on Ross Avenue W in Brooklands presents a unique opportunity centered on value and potential. Its key appeal lies in its below-average price point within the city and neighbourhood, supported by a recently renovated basement. The home sits on a 2,597 sqft lot, which is modest for the street but offers manageable outdoor space. With a living area of 601 sqft, the house itself is compact, suggesting a focus on efficiency or a foundation for future expansion.
The property suits first-time buyers or investors seeking an affordable entry into the Winnipeg market, particularly those comfortable with a smaller, character home. Its average assessed value for the street indicates it fits the local context without overpaying. A thoughtful perspective is that the home's age and size make it a candidate for energy efficiency upgrades or a thoughtful addition, leveraging the existing renovated basement as a solid starting point. It’s a practical choice for someone who values location and lot ownership over immediate square footage.
Frequently Asked Questions
1. Is the house in need of major updates?
The listing specifically notes a renovated basement, suggesting that area is modernized. As a 1910 build, buyers should budget for potential updates to other original systems, such as wiring or plumbing, and consider a thorough inspection.
2. How does the lot size compare?
At 2,597 sqft, the lot is below the average for both Ross Avenue W and the Brooklands area. This means lower maintenance but may limit options for large additions or detached structures, depending on zoning.
3. Why is the assessed value so much lower than the 2017 sale price?
The significant difference between the 2017 sale price ($150k) and the current assessed value ($19.3k) is notable. This typically requires clarification from the listing agent, as it could relate to assessment methodology, changes in the property's condition, or its classification.
4. What is the neighbourhood like?
Brooklands is an established Winnipeg community. The home's assessed value ranks around average for the area, indicating it's in line with the neighbourhood's economic profile. Prospective buyers should explore the area in person to gauge its fit.
5. Is this a good investment property?
Given its low price point and renovated basement, it could attract interest as a rental. However, the compact living area and older building date should be factored into long-term maintenance costs and tenant appeal. Its value may be more in land ownership and affordability than in cash flow.