Property Overview: 490 Edison Avenue, Winnipeg
Key Characteristics & Appeal
This home at 490 Edison Avenue in Rossmere-A is a quintessential Winnipeg property that offers solid, middle-of-the-road metrics and predictable value. Built in 1960, its construction year is notably above average for its immediate street. The 1,053 sqft living area is consistently "around average" when compared to the street, neighborhood, and city, indicating it's a comfortably sized home for the area without being an outlier. The lot size of 6,048 sqft is a standout feature, ranking above average for both the neighborhood and city, offering more outdoor space than many comparable properties.
Its primary appeal lies in its stability and alignment with community norms. The assessed value of $335k sits below the Winnipeg city average for similar homes, suggesting a potentially accessible entry point into the market. This isn't a flashy, fully renovated showhome, but rather a property that represents a known quantity—a standard-sized home on a generous lot in an established neighborhood. It would suit pragmatic first-time buyers or investors looking for a straightforward, no-surprises property with room to grow, or downsizers seeking a manageable home with a good-sized yard without paying a premium for above-average square footage.
Frequently Asked Questions
1. How does this home's value compare to recent sales on the street?
Public data shows homes on Edison Avenue sold in a range of $250k-$300k back in September 2017. The current assessed value of $335k is above that historical range, reflecting broader market changes. It ranks in the top 34% for assessed value on the street, indicating it is viewed as a higher-value property within its immediate block.
2. Is the lot size a major advantage?
Yes, particularly at the neighborhood level. The lot is larger than approximately 70% of comparable properties in Rossmere-A, which is a significant advantage for privacy, gardening, or future expansion compared to other homes in the area.
3. What does "around average" for living area really mean for daily life?
With 1,053 sqft, the home provides the typical space found in many Winnipeg houses from this era. It’s sufficient for a small family or couple but may feel compact by modern open-concept standards. The data confirms you are getting the standard expected for the community, not more or less.
4. The home was built in 1960. Should I be concerned about major updates?
The year of build (1960) is actually above average for the street. This means many neighboring homes are of a similar vintage. Buyers should budget for expected maintenance and potential updates common to homes of this age, such as roofing, windows, or mechanical systems, but this is typical for the area.
5. How does this property fit within the wider Winnipeg market?
Citywide, this home sits in a unique position: its assessed value is in the top 59%, yet its living area is only in the top 66%. This suggests you may be paying more for the property's lot, location, or specific characteristics than for its interior square footage compared to the entire city. It represents better value within its specific neighborhood context.