Property Overview: 503 Rosedale Avenue, Lord Roberts, Winnipeg
Key Characteristics & Appeal
This home at 503 Rosedale Avenue is a compact, early-20th century property built in 1909, offering a unique proposition in the Lord Roberts neighbourhood. Its key characteristic is its modest scale, with a living area of 645 sqft that places it among the smaller homes on its street and in the wider city. The lot size of 3,126 sqft is also below the area average, suggesting a low-maintenance outdoor space. Despite its smaller footprint, its assessed value is notably lower than many comparable properties, indicating a potentially accessible entry point into the market.
The appeal lies in its simplicity and efficiency. It suits first-time buyers, downsizers, or investors seeking a character home without the upkeep of a larger property. Its recent sale history shows significant value appreciation since 2017, highlighting the area's desirability. A thoughtful perspective is that a home of this age and size offers a chance to create a highly efficient, customized space without the excess square footage that often goes unused. It represents a practical, grounded approach to homeownership in a well-established neighbourhood.
Frequently Asked Questions
1. Is this a "tear-down" or renovation project?
Given its age, smaller size, and lower assessed value relative to some neighbours, some buyers may consider it for land value or a full rebuild. However, its recent sale within the $250k-$300k range suggests it is a functional home, likely suited for renovation or careful updating rather than an immediate demolition.
2. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes compared to higher-valued homes in the same area. This can be a meaningful ongoing savings for budget-conscious owners.
3. What are the implications of the smaller living area?
The 645 sqft layout requires efficient use of space. It would be ideal for one or two people. Buyers should consider if the layout meets their needs or if they are prepared for potential reconfiguration. Its compact nature also means lower utility costs.
4. The data shows it's "below average" in many metrics. Is that a concern?
This largely depends on your goals. For the neighbourhood, it is a more affordable option. These metrics highlight its position as a modest, no-frills property in the area, not necessarily a deficiency. It outperforms many city-wide comparisons in value ranking, suggesting it holds its own as an urban property.
5. How stable is the property value in this location?
The sold price history shows a considerable increase from the $150k-$200k range in 2017 to $250k-$300k in 2024. This strong appreciation, even for a smaller home, suggests a stable and desirable location within Lord Roberts, which can provide confidence in the long-term investment.