Property Overview: 361 Colvin Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This Rossmere-A home presents a distinct profile defined by its valuable lot and modest footprint. Built in 1955, the 986 sqft living area is notably below average for the street, neighborhood, and city, indicating a compact, efficient layout. The primary appeal lies in its generous 6,599 sqft lot, which ranks above average at every level and offers significant outdoor space and potential in a mature area.

Its assessed value of $395k is well above the local averages for Colvin Avenue and Rossmere-A, suggesting the property is valued more for its land and location than its current structure. This creates an interesting dynamic: it’s a premium-priced property on its street, yet its size is among the smallest. The sale history shows a substantial increase from the $200k-$250k range in 2019 to $500k-$550k in 2022.

This property would best suit a specific buyer: someone who prioritizes land size over interior square footage, sees value in a mature neighborhood lot, and is potentially open to a future renovation or expansion. It could also appeal to a downsizer seeking a manageable home with a large, private yard, or an investor recognizing the underlying land value in a stable area.

Section 2: Frequently Asked Questions

1. Why is the assessed value so high compared to nearby homes if the house itself is smaller?
The assessment likely reflects the value of the larger-than-average lot size in a desirable, established neighborhood. Property assessments consider land value, location, and the building, suggesting the land component here is a significant driver.

2. What does the sale history tell us about this property's market?
The sharp increase in sold price between 2019 and 2022 aligns with broader market trends of that period. It indicates strong perceived value growth, though prospective buyers should investigate current market conditions and any improvements made between those sales.

3. Is the below-average living area a major concern?
It depends on your needs. For some, it means lower utility costs and less maintenance. For others, it may feel cramped. The data clearly shows it’s a compact home, so evaluating your space requirements against the lot's benefits is key.

4. How does the lot size compare to nearby properties?
The lot is substantially larger than the Rossmere-A neighborhood average (5,685 sqft) and slightly above the city average. On Colvin Avenue itself, it ranks 5th out of 30, meaning it’s one of the larger parcels on the street.

5. Where can I get verified, exact sold price figures?
The site notes that due to industry rules, it cannot display exact MLS sold prices. You must request the exact figures via email from the site provider, who will manually look them up and send them to you.