723 Ross Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a compact home with 768 square feet of living space, situated on a notably large 5,130-square-foot lot. While the house itself is smaller than most in its street, neighbourhood, and city, the land is a standout feature—ranking in the top 14% on both the street and in West Alexander.

The property was built in 1995, making it significantly newer than the surrounding housing stock, where the average construction year is 1942 on the street and 1921 in the neighbourhood. This combination of a modern build with a generous lot is unusual for the area. The assessed value of $227,000 sits slightly above the neighbourhood average ($187,300) but well below the citywide median, reflecting the trade-off between a smaller home and a newer one in an older, established part of Winnipeg.

Appeal: The appeal here is not about square footage. It's about land, location, and relative newness. For someone who values outdoor space, a private yard, or the potential to expand or redevelop, this lot offers flexibility that most nearby properties lack. The home’s age also means fewer immediate structural or systems concerns than a century-old house, while still being priced below many citywide averages.

Suitable buyers: This property would suit a buyer who prioritizes lot size over interior space—perhaps a first-time buyer willing to renovate or a small household that doesn't need a large floor plan. It may also appeal to someone looking for a newer home in a mature neighbourhood without paying a premium for a full-sized house. Investors might see value in the land-to-building ratio over time.

Five Possible FAQs

1. How does the living area compare to other homes in West Alexander?
The 768-square-foot floor plan is well below the neighbourhood average of 1,299 square feet, ranking in the bottom 13% locally. It’s a compact home, even by older neighbourhood standards.

2. Why is the assessed value above the neighbourhood average despite being smaller?
The assessed value likely reflects the newer construction (1995 vs. a neighbourhood average of 1921) and the large lot. Newer builds and larger lots tend to carry higher valuations, even when the home itself is smaller.

3. What are the possibilities for the land?
At 5,130 square feet, the lot is about 50% larger than the typical parcel on the street. Depending on zoning, this could allow for a future addition, a detached garage or workshop, or even a subdivision in some cases. Buyers should verify local regulations directly.

4. Is this a good option for someone looking to avoid older home maintenance?
Yes, generally. A home built in 1995 will typically have more modern electrical, plumbing, and insulation than the area's pre-war housing stock. However, it's still nearly 30 years old, so a home inspection is always recommended.

5. How does this property compare citywide?
Citywide, the home ranks in the bottom 7% for living area (768 sqft vs. a 1,342 sqft average) and the top 13% for newer construction. The assessed value sits in the bottom 13% citywide, largely due to the smaller size, while land area ranks near the middle at 51%.