Property Overview: 542 Ross Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home on Ross Avenue in the Centennial neighbourhood presents a practical and value-oriented opportunity. Built in 1986, it is notably newer than many surrounding homes, offering modern construction fundamentals. With 1,120 sqft of living space, it provides comfortable room for a small household or first-time buyer. A key feature is the renovated basement, adding functional space. The lot size is standard for the street, offering manageable outdoor space without excessive upkeep.
The primary appeal lies in its relative modernity and solid positioning within its immediate area. For its street and neighbourhood, the home ranks above average in year built and living area, while its assessed value sits around the local average. This suggests you are getting a newer, reasonably sized home without a premium price tag for the locale. It would suit a first-time homebuyer, an investor looking for a manageable rental property, or someone seeking a straightforward, no-frills home in a central Winnipeg neighbourhood. The lack of a garage and pool points to a simpler, lower-maintenance lifestyle.
A less obvious perspective is the potential for stability. While its city-wide assessed value is below average, its consistent performance within its own community suggests it is insulated from the wilder swings of the broader market. It represents a grounded entry into homeownership focused on necessity rather than luxury.
Section 2: Frequently Asked Questions
1. How does this home compare to others on the street?
It ranks well, particularly for its newer age (top 19% on Ross Ave) and larger living area (top 25%). Its assessed value is very close to the street average.
2. What is the neighbourhood like for property values?
In the Centennial neighbourhood, this home’s metrics are generally around or above average compared to similar properties, indicating a stable, established area without extreme highs or lows.
3. Has the property value changed over time?
Previous sale data shows a sale in 2016 for $170,000 and a more recent transaction in early 2024 for $185,000, indicating modest appreciation over an eight-year period.
4. Is the lot size a pro or a con?
The 3,205 sqft lot is very typical for the area—smaller than the city average but standard for Centennial. It’s a pro for lower maintenance but a con if you desire extensive outdoor space.
5. What should I consider about the "renovated basement"?
While a positive, it’s important to verify the scope, quality, and permits of the renovation, as well as its impact on the home’s overall moisture management and livable space.