555 Sharron Bay

Property Overview

This home at 555 Sharron Bay in Winnipeg's Rossmere-A neighborhood presents a classic, mid-century property with balanced metrics. Built in 1959, its 1,060 sqft living space is very close to the average for both its street and community. The key standout is its 6,048 sqft lot, which ranks within the top 30% in the broader area, offering more outdoor space than many comparable properties. With a tax-assessed value of $342,000, it sits at a moderate point within its local market, slightly above the community average but below the city-wide average for similar homes. Historical data suggests a sale in late 2020 within the $300,000-$350,000 range.

Key Characteristics & Appeal

The appeal of this property lies in its consistency and above-average lot size. It is not an outlier in any single category but represents a stable, average-sized home in a mature neighborhood. Its value proposition is grounded in a larger-than-typical yard for the area, providing room for gardening, play, or expansion. The home suits practical buyers—first-time homeowners, downsizers, or investors—who prioritize a solid, no-surprises foundation in an established community over modern finishes or premium square footage. A thoughtful perspective is that its "average" rankings across key metrics can be a strength, indicating a property that aligns well with neighborhood norms and may offer more predictable long-term value without the premium or discount associated with being an extreme.

Frequently Asked Questions

1. How does this home's value compare to recent sales in the area?
Based on available data, a nearby sale of 551 Sharron Bay in September 2020 fell within the $300,000-$350,000 range. The current tax assessment of $342,000 is a useful benchmark, but for precise, up-to-date comparable sales, you would need to consult the MLS system directly or request a manual search from the site provider.

2. Is the living space considered small?
At 1,060 sqft, it is slightly below the Winnipeg average but is very typical for the Rossmere-A neighborhood and Sharron Bay street. It represents a standard floor plan for its era, suitable for a small family or couple.

3. What does the "above average" lot ranking mean practically?
The lot is approximately 6,048 sqft, which is larger than about 70% of lots in the Rossmere-A community. This means you likely have more backyard space, side yard room, or a wider frontage than many neighboring properties, which is a valuable and less common feature in older neighborhoods.

4. The home was built in 1959. What should I consider?
As a mid-century build, a thorough inspection is essential. Focus on the condition of major aging components like the roof, foundation, plumbing, and electrical systems. This era of home also presents opportunities for updates to improve energy efficiency and modernize layouts.

5. How accurate is the tax assessment for determining market value?
The tax assessment ($342,000) is an administrative valuation for municipal tax purposes and is calculated using mass appraisal techniques. It is a useful data point and often correlates with market value, but it is not a substitute for a current market appraisal or comparative market analysis (CMA) conducted by a real estate professional, which considers the property's specific condition and the latest market trends.