36-1445 Rothesay Street

Property Overview

This home at 36-1445 Rothesay Street in Winnipeg's Rossmere-A neighbourhood presents a practical and affordable entry point into the market. Built in 1969, its key appeal lies in a combination of recent updates, a highly efficient price-to-space ratio, and a location that ranks exceptionally well within its immediate area.

Key Characteristics & Appeal

The 1,152 sqft home features a renovated basement, adding valuable finished living space. Its standout characteristic is its land area, which ranks in the top 1% on its street and top 0% in both the neighbourhood and all of Winnipeg, suggesting a larger-than-typical lot for the area and price point. While the home itself is of average size for the locale, it has demonstrated strong value appreciation, with its last sold price in October 2024 ($23.5k) significantly higher than its 2020 sale ($20.7k). The assessed value of $24,800 is notably low, which can translate to very manageable property taxes.

This property would suit first-time buyers or investors seeking a low-cost entry with renovation potential, or those who prioritize land size and outdoor space over a newer build. Its appeal is grounded in practicality: it offers the fundamentals of homeownership with a minimal financial footprint, allowing owners to build equity without a hefty mortgage. A less obvious perspective is that a home with such a low assessed value in a well-ranked location can be a strategic hold, as future improvements could significantly boost its value relative to the initial investment.

Frequently Asked Questions

1. Why is the assessed value so much lower than recent sale prices?
Municipal assessments in Manitoba are based on a mass appraisal system and often lag behind current market values, which are driven by recent sales. The rising sale prices here indicate a strong local market demand.

2. What does the "land area" ranking actually mean?
The rankings show this property's lot size is larger than 99% of other lots on Rothesay Street and 100% of lots in the broader Rossmere-A neighbourhood. This means you're getting more outdoor space than is typical for the area.

3. Is a renovated basement included in the living area square footage?
Typically, municipal records for living area (1,152 sqft here) do not include below-grade space, even if finished. The renovated basement is additional, bonus space not reflected in that official figure.

4. The home is older—what should I be mindful of?
Built in 1969, prospective buyers should prioritize inspections for original major systems, such as the roof, plumbing, and electrical, to understand any upcoming maintenance or update costs.

5. How are the nearby reference properties relevant?
The listed nearby homes provide context for the local market. You can see that similar-sized homes in Rossmere-A have a wide range of assessed values, confirming that this property sits at a very affordable point within the neighbourhood spectrum.