Property Overview
This home at 238 Greene Avenue in Winnipeg's Rossmere-B neighborhood presents a practical entry point into the market. Built in 1948, it sits on a roughly 5,000 sqft lot and offers 936 sqft of living space with a current assessed value of $281,000.
Key Characteristics & Appeal
The primary appeal of this property is its position as a value-conscious option. Its assessed value is notably below averages for its street, neighborhood, and the wider city, suggesting a potentially lower entry price. The lot size is solid and typical for the area. While the home is older and the living space is modest compared to city averages, it is quite standard for Rossmere-B. This creates a clear scenario: you are purchasing a home that is fundamentally average for its immediate surroundings but priced below those averages.
It would best suit first-time buyers or pragmatic investors looking for a straightforward, no-frills property in a stable neighborhood. Its value proposition is clear for those comfortable with a home that may require updates, as its age and below-average valuation could allow for a renovation budget. A thoughtful perspective is that this home represents the "baseline" of the neighborhood—it’s not an outlier in size or age, so its potential is closely tied to the overall health and demand of Rossmere-B rather than unique features.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $281k is a municipal calculation for tax purposes. Notably, it is below local averages. The last known sale was between $200k-$250k in late 2016. A current sale price would be influenced by market conditions, but the below-average assessment is a key data point for negotiations.
2. Is the living space too small?
At 936 sqft, the living area is slightly below the city average but is actually around the average for both Greene Avenue and the Rossmere-B neighborhood itself. It is a compact, efficient layout typical of its era, suitable for smaller households.
3. What does the age of the home (1948) mean for a buyer?
Being built in 1948 means the core structure is older than many area homes. Buyers should budget for potential updates to major systems like wiring, plumbing, or insulation. A pre-purchase inspection is essential to understand the condition and any immediate needs.
4. How does this property compare to its direct neighbors?
The provided comparisons show nearby homes with similar sizes and assessments, ranging from 780 to 995 sqft and $253k to $318k in value. This confirms 238 Greene Avenue is firmly within the standard range for the block, neither the largest nor the smallest.
5. Why is the "citywide" ranking for value better than the "street" ranking?
While the home's value ranks in the bottom 20% on its own street, it ranks in the top 24% citywide. This highlights a key insight: Greene Avenue and Rossmere-B appear to be areas with higher-than-average home values overall. So, a "below-average" price here might still be competitive compared to many other parts of Winnipeg.