Property Overview: 1840 Ross Avenue W, Brooklands, Winnipeg

Section 1: Key Characteristics & Appeal

This home is a 1946-built, one-and-a-half storey property on a notably large lot in the Brooklands neighbourhood. Its primary appeal lies in the land itself—at over 5,100 square feet, the lot size is well above average for both the immediate street and the broader area, representing a significant opportunity for future use or expansion. The living space is modest at 985 square feet, with a detached garage and no basement.

The property is best suited for a specific type of buyer. It’s a strong candidate for investors, builders, or handy homeowners looking for a land-value play. The combination of a lower purchase price, a sizable lot in an established neighbourhood, and the home’s older condition suggests potential for a significant renovation, a complete rebuild, or holding as a long-term investment. It’s less suited for buyers seeking a move-in-ready home or extensive finished living space immediately.

A thoughtful perspective is that while the home’s metrics (age, living area, assessed value) are average or below average city-wide, its value is hyper-local. On its own street and in Brooklands, the lot is a standout feature. This creates a unique position: it’s a below-average structure on an above-average piece of land for the area, which is where the real potential lies.

Section 2: Frequently Asked Questions

Q: What does the "Top X%" ranking for the lot size actually mean?
A: It means this property’s land area is larger than most comparable lots in its peer group. Specifically, it ranks in the top 6% on its street and the top 8% in Brooklands, indicating the lot is a significant asset relative to its immediate neighbours.

Q: The assessed value seems very low. Why is that?
A: Municipal assessed value is based on the property as it currently exists—the older, modest home on a large lot. The recent sale price was close to this assessment, reflecting the market’s view of the property in its current state, with its potential primarily tied to the land.

Q: Is this a teardown property?
A: While not explicitly stated, the data suggests it’s a prime candidate. The home is 80 years old with limited living space, while the lot is substantially larger than area norms. Many buyers would consider replacing the existing structure to maximize the lot’s value.

Q: Who would this property not be a good fit for?
A: It would not suit buyers needing immediate, modern living conditions without major renovation work. It’s also less ideal for those with a strict budget that cannot accommodate significant future construction or renovation costs beyond the purchase price.

Q: The home has no basement. What are the implications?
A: This limits storage and potential for below-ground living space like a rec room or traditional utility area. Any future renovation or rebuild would need to account for all living and mechanical systems on a single level or in a crawlspace, which can influence design and cost.