1578 Ross Avenue W – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 550 sqft home built in 1931 on a 2,597 sqft lot in Winnipeg’s Weston neighbourhood. Its assessed value is $116,000.
The property’s main appeal is its affordability and entry-level price point. It ranks in the bottom percentiles for living area, land size, and assessed value both on its street and citywide—meaning it’s among the smallest and least expensive homes available. For a buyer who prioritizes low cost over space, this is a rare find.
It would suit a first-time buyer with a modest budget, an investor looking for a low-cost rental or flip in a developing area, or someone willing to live small in exchange for a very low purchase price. The home’s age (1931) is around average for the street and neighbourhood, so it’s not unusually old for the area, but citywide it’s older than most. Buyers should expect original-owner-era maintenance and potential updates.
Frequently Asked Questions
1. Is this a good investment property?
Potentially, but primarily for cash flow or land value, not appreciation in size. The low assessed value means low property taxes and a low entry cost. However, its small living area limits rental income compared to larger units in Weston. The land is small too—2,597 sqft—so redevelopment potential is limited unless nearby lots are combined.
2. How does the size compare to other homes in Weston?
It’s notably smaller. The neighbourhood average living area is 936 sqft, and the typical lot is 3,269 sqft. This property is about 40% smaller inside and on a lot that’s 20% smaller than the neighbourhood norm. It’s genuinely compact, even by local standards.
3. What is the typical condition of a 1931 home in this area?
Homes from that era in Weston vary widely. Some have been updated; others retain original wiring, plumbing, and foundations. The year-built ranking (around average for the street) suggests it’s not unusually old for its block, but citywide it’s older than 82% of homes. A thorough inspection focusing on the foundation, roof age, and mechanicals is strongly recommended.
4. Why is the assessed value so low relative to the city average?
The citywide average assessed value for comparable homes is $390,100. This property’s value ($116,000) is low primarily because of its small living area (550 sqft) and modest lot size. It’s not located in a high-demand area, which also keeps values down. The low assessment reflects the market’s view of the property’s utility and location.
5. What are the biggest trade-offs for a buyer?
You gain a very low purchase price and likely low monthly costs. You lose living space, yard space, and possibly some resale liquidity—small homes can take longer to sell. The home’s age may also mean higher ongoing maintenance relative to its value. It’s a choice that works best if your priority is minimizing upfront cost rather than maximizing space or future appreciation.