1406 Ross Avenue W — Property Summary
Key Characteristics & Buyer Profile
This home is a 1,035-square-foot residence built in 2020, situated on a 2,598-square-foot lot in the Weston neighbourhood of Winnipeg. Its standout feature is the sharp contrast between its modest living area and land size versus its high assessed value and very recent construction.
On the street and in the neighbourhood, the home ranks in the top 2% and top 1%, respectively, for both assessed value and year built. The assessed value ($357,000) sits well above the street average ($200,400) and the neighbourhood average ($184,700). Locally, this is an elite property in terms of quality and condition. However, citywide, the assessed value is closer to average relative to comparable homes, and the land area is notably small—ranking in the bottom 7% across Winnipeg.
The appeal here is less about space and more about efficiency, modern finishes, and relative affordability within a well-located older neighbourhood. Buyers who would suit this property include first-time homeowners looking for a turnkey home with no immediate renovation needs, downsizers who want a newer build without a large yard to maintain, or investors targeting properties with strong local value retention. It is less suitable for buyers seeking a large lot, a family-sized yard, or a home that stands out on square footage alone.
Five Possible FAQs
1. How does the property's small lot affect its value or desirability?
The lot is below average for the street, neighbourhood, and city. In an area like Weston, where many homes have deeper or wider lots, this can be a limitation for buyers wanting outdoor space. On the other hand, the smaller lot keeps maintenance low and is consistent with the home's overall compact, modern footprint. The high assessed value suggests the market currently does not penalize the lot size heavily.
2. Why is the assessed value so much higher than neighboring homes when the square footage is similar?
The home was built in 2020, while the average home on the street was built in 1942. Newer construction typically commands a premium due to modern building codes, insulation, electrical, plumbing, and finishes. The assessed value likely reflects the cost to replace the building, not just its size.
3. How does this home compare to a typical starter home in Winnipeg?
Citywide, the living area is below average (1,035 sqft vs. 1,342 sqft), and the lot is significantly smaller. However, the assessed value sits near the citywide average for comparable homes. This means you are getting a newer, better-finished property for a similar price to an older, larger home elsewhere—a trade-off between age/condition and space.
4. Is the Weston neighbourhood considered up-and-coming or established?
Weston is an established inner-city neighbourhood with a mix of older housing stock. The presence of a 2020 build ranking in the top 1% for newness locally suggests new development is rare but valued. It is not a high-growth area citywide, but for a buyer looking for proximity to downtown or the Exchange District with a newer home, it offers a non-obvious value proposition.
5. What does "rank #9 out of 380" for assessed value actually mean in practical terms?
It means only eight other homes on Ross Avenue West have a higher assessed value than this one. In practical terms, it is one of the most valuable homes on the street, likely due to its newness. This can be a double-edged sword: it signals quality, but property taxes will be higher than most neighbours’, and future resale will depend on maintaining that status in a street of much older homes.