Property Overview
This 1955-built home at 547 Greene Avenue in Winnipeg's Rossmere-B neighborhood presents a practical opportunity in the city's residential market. Its key appeal lies in its balance of a larger-than-average lot and a solid assessed value, positioned within a stable, established area.
The 912 sqft living space is modest, ranking below both neighborhood and city averages, suggesting a home better suited for a smaller household, a first-time buyer, or an investor. However, it sits on a 5,190 sqft lot, which is notably larger than most on its street, offering valuable outdoor space or future expansion potential. With a current assessed value of $325k—above the immediate street average—the property holds its value well in its local context. Previous sales show significant appreciation, last selling for between $350k-$400k in late 2021 after a 2016 sale in the $200k-$250k range.
This home would suit a value-conscious buyer who prioritizes land size over interior square footage, or someone looking for a manageable property in a mature neighborhood without the premium of a newly built home. It's a straightforward option where the investment is grounded more in the land and location than in the size or modernity of the structure.
Frequently Asked Questions
1. Is the assessed value a good indicator of the likely selling price?
The assessed value of $325k is a municipal benchmark for taxation. Given that it sold for an estimated $350k-$400k in 2021, recent market conditions will be the primary driver. It's wise to review current comparable sales in Rossmere-B.
2. How does the smaller living area impact livability?
At 912 sqft, the home is cozier than the average Winnipeg house. This typically means efficient use of space and lower utility costs, but may require creative storage solutions. It's ideal for 1-2 people or a small family.
3. What are the advantages of the larger lot size?
The 5,190 sqft lot is a standout feature. It provides more private outdoor space than neighboring properties, room for gardening, play, or additions like a shed or deck. This can be a key value-driver in an older neighborhood.
4. The home was built in 1955. What should I consider?
Homes of this era are common in Winnipeg and are often solidly built. A thorough inspection is crucial to understand the condition of major systems (roof, wiring, plumbing, foundation) and what updates (like insulation or windows) may be needed for comfort and efficiency.
5. What does the sales history tell us about the property's trajectory?
The price increase from the 2016 sale to the 2021 sale indicates strong appreciation in that period. This history shows the property has been a solid asset, though past performance does not guarantee future results.