Property Overview: 502 Mark Pearce Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This Rossmere-A home, built in 1959, presents a practical opportunity in Winnipeg’s housing market. Its key characteristic is a balance of modest home size on a generous lot. The living area of 1,012 sqft is below the citywide average, indicating a cozier, more manageable footprint ideal for smaller households or those looking to minimize maintenance. The standout feature is the 6,047 sqft lot, which is above average for both the street and the neighborhood. This creates valuable outdoor space for gardening, recreation, or future expansion that is less common in this price range.

The appeal lies in its position as a value-conscious entry into a stable neighborhood. With an assessed value of $310k, it sits below the average for its immediate street but aligns more closely with the citywide average for comparable homes. This suggests a potentially more affordable point of entry into the area. The home last sold in late 2019, providing a clear, recent benchmark for market comparison.

This property would best suit first-time buyers, downsizers, or practical investors seeking a home with a lower relative cost per square foot of land. It’s for those who prioritize lot size and location over a large interior, and who see potential in the land itself or in thoughtfully updating a well-located, older home.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value ($310k) is used for calculating property taxes and is an administrative estimate. Market value is what a buyer is willing to pay in the current market, which can be higher or lower. The 2019 sale price provides a historical data point, but a current market evaluation is essential.

2. How does the home’s size compare to others?
The living space is compact. At 1,012 sqft, it’s smaller than most homes on its street and in Winnipeg overall. This means efficient use of space is key, but it also translates to lower heating and cleaning costs.

3. What does the lot size ranking mean for me?
Ranking in the top 21% on the street for lot size is a significant positive. It means you’re getting more outdoor space than most of your immediate neighbors, offering more privacy, room for activities, or landscaping potential.

4. The home was built in 1959. What should I consider?
Homes of this era are typically solidly built but may require updates to major systems like plumbing, electrical, or insulation to meet modern efficiency standards. A thorough inspection is crucial to understand the condition and any needed investments.

5. How can I find out the exact past sale price?
The site provides a sold price range from 2019. Due to industry data rules, exact sold prices are not displayed publicly here. You can request the exact figures via email from the site provider, who will manually look them up and send them to you.