Property Overview: 551 Edison Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 551 Edison Avenue in the Rossmere-A neighborhood presents a solid, middle-of-the-road offering in Winnipeg’s market. Built in 1961, it is slightly newer than many immediate comparables on its street. With 1,044 square feet of living space and a 5,247 sqft lot, it sits consistently close to the average for its local area in both categories. The municipal tax assessment is $319,000, which is moderately below the current citywide average for similar homes, suggesting a potentially manageable annual tax burden relative to broader market values.
The primary appeal lies in its stability and predictability. It’s not an outlier in any major metric—size, lot, value, or age—which can be reassuring for buyers seeking a home that aligns with well-established neighborhood norms. This is a property for pragmatic buyers: first-time homeowners looking for a sensible entry point, or investors seeking a straightforward rental property with stable, average metrics. Its value proposition is one of balance rather than standout features, offering a lower-risk profile in a mature community. A less obvious point of consideration is that its consistent "average" rankings across scales—from its street to the entire city—indicate it is a quintessential representation of Winnipeg's post-war housing stock, making its future market performance a reliable bellwether for the city’s broader residential sector.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales in the area?
Data indicates a home on this street sold for between $350,000 and $400,000 in April 2022, which placed that sale in the top 22% for the street at that time. The current tax assessment of $319,000 is a different metric used for calculating property taxes, not a market price. For precise, up-to-date sale histories, you would need to request that information directly, as detailed on the property page.
2. Is the living space smaller than typical for the neighborhood?
At 1,044 sqft, the living area is very close to the Rossmere-A community average (1,116 sqft) and slightly below the average for Edison Avenue itself (1,182 sqft). It ranks in the top 55% within the community, indicating it is a standard, functional size for the area.
3. What does the 1961 build year imply for a buyer?
Built in 1961, this home is typical of its era in Winnipeg. It is slightly newer than the immediate street average (1960), which is a minor positive. Buyers should budget for maintenance and updates common to houses of this age, such as roofing, windows, and mechanical systems, while also appreciating the character and established lot sizes of the period.
4. How does the lot size compare?
The 5,247 sqft lot is moderately smaller than the Winnipeg city average but is very close to the standard for both the Rossmere-A community and Edison Avenue. It offers a decent outdoor space typical of the neighborhood, ranking in the top 67% within the community.
5. Who would this property suit best?
This home is ideally suited for value-conscious buyers prioritizing location and community norms over luxury or extensive renovation projects. Its balanced metrics make it a sensible choice for first-time homeowners, downsizers seeking a manageable property, or investors looking for a stable, average-priced asset in a long-established neighborhood.