Property Overview & Appeal
This well-situated 1960s bungalow at 498 Edison Avenue in Rossmere-A offers a classic Winnipeg housing profile with notable recent investment. Its key characteristic is the renovated basement, adding valuable finished space to the 1,040 sqft main floor. The lot is a generous 6,048 sqft, providing ample outdoor space that ranks above average for the street.
The appeal lies in its balance of established neighbourhood character and modernized living space, underscored by a significant value increase—it sold for $360k in 2022, far above its previous sale price and current assessed value. This suggests substantial updates or a hot market moment. It would suit first-time buyers looking for a move-in-ready home with a finished lower level, or downsizers seeking a manageable single-storey layout on a large, private lot. A thoughtful perspective is that while the home ranks in the middle of the pack for size and assessed value on its street, its recent sale price performance was in the top tier, indicating it may have features or a condition that outpaces its direct comparisons.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or rooms. This would be a key point to clarify with the seller or agent to understand the quality and layout of the additional living space.
2. Why is there such a large gap between the 2022 sale price ($360k) and the current assessed value ($30.6k)?
Assessed value in Manitoba is for municipal tax purposes and is typically much lower than market value. The 2022 sale price is the true indicator of its recent market worth, reflecting the property's condition and the market at that time.
3. Is the home suitable for adding a garage?
The property has no garage, but the large lot size (over 6,000 sqft) provides potential space for adding one, subject to local zoning and setback bylaws.
4. How does this property compare to others on the street?
The data shows it ranks in the top half for lot size and newer construction age on Edison Avenue. Its last sale price ranked in the top 13% for the street, suggesting it was a premium offering compared to neighbours at that time.
5. What is the neighbourhood character of Rossmere-A?
Based on the provided comparable listings, Rossmere-A features primarily bungalows and split-levels built from the 1950s to 1970s, with varied lot sizes and a mix of updated and original homes, indicating a mature, stable neighbourhood.