This 1974-built home on Sutton Avenue presents a unique profile within Winnipeg's Rossmere-A neighbourhood. Its key appeal lies in a combination of a renovated basement and a highly desirable location, as evidenced by its land ranking in the top 1% of its street and top 0% for the entire city. At 974 sqft, the living area is modest and sits below the neighbourhood average, suggesting a more efficient, manageable footprint. The property last sold in 2016 for $190k, a price point that was notably high for the area at the time, indicating strong past buyer interest. The current assessed value of $22.3k is significantly lower than nearby comparable homes, which is an important point for buyers to investigate directly.
This home would suit a first-time buyer or downsizer looking for a well-located property with foundational updates (the basement) and who prioritizes land value and location over square footage. It’s also a candidate for an investor or handy buyer comfortable with a smaller main-floor layout but who sees potential in the already-improved lower level and premier lot ranking.
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Why is the current assessed value so much lower than the 2016 sale price and nearby properties?
This large discrepancy is the most critical question. It necessitates checking with the listing agent for current municipal assessment details and understanding if there are specific characteristics or adjustments affecting the official valuation.
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What specific renovations were done to the basement, and were permits obtained?
The mention of a renovated basement is a plus, but understanding the scope, quality, and compliance of the work is essential for valuing the update accurately.
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How does the smaller living area (974 sqft) compare to the neighbourhood average?
The home's living space ranks in the bottom quarter for the area. Buyers should consider if the layout feels efficient and open for its size and whether it meets their spatial needs against the benefit of the location.
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What is the explanation for the very high land ranking?
Ranking in the top 1% in Winnipeg for land suggests an exceptionally large, well-situated, or irregularly valuable lot. Verifying the exact lot dimensions, features, and any development potential is key.
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The 2016 sale price was high for the area; what condition or features justified it then?
Understanding what made the property command a premium eight years ago can provide insight into its inherent strengths or reveal if it has since been outpaced by the market.