728 Ross Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a compact, older home in Winnipeg’s West Alexander neighbourhood. At 660 square feet of living area, it’s significantly smaller than most properties on its street, in the neighbourhood, and citywide—ranking in the bottom 2% for living space across the city. The assessed value of $105,000 is also well below local averages, placing it among the most affordable homes in the area.

Its main appeal lies in the land. The lot is 3,123 square feet, which is fairly typical for the street and neighbourhood, though still below citywide averages. For a buyer, the land-to-structure ratio is high: you’re paying primarily for the lot, not the house. The building itself dates to 1892, making it one of the older properties in the city. That means potential buyers should expect aging infrastructure and likely the need for significant updates or a full rebuild.

This property suits buyers who are land-focused rather than house-focused. It would work well for someone with renovation experience—or a contractor—looking to redevelop or substantially upgrade a property in a central Winnipeg location. It may also appeal to investors seeking a low-cost entry point into the market, with the land value as the main asset. First-time buyers wanting a move-in-ready home would likely find it too small and outdated.

Frequently Asked Questions

1. Why is the assessed value so low compared to nearby homes?
Assessed value reflects both the age and condition of the building, as well as the small living area. The home was built before the turn of the century and is under 700 square feet, so the valuation is driven largely by the land underneath it. Neighbouring properties tend to be larger and more recently updated.

2. Is this property a teardown or can it be lived in as-is?
That depends entirely on the current condition, which isn’t detailed here. The year built (1892) and low assessed value suggest the structure may need substantial repairs—possibly including foundation, electrical, or plumbing work. A home inspection would be essential before assuming occupancy is safe or practical.

3. How does the lot size compare to other properties in the area?
The 3,123-square-foot lot is close to the average for both the street and neighbourhood. It’s not large by citywide standards, but relative to homes in West Alexander, it’s a fairly standard urban lot. This means you’re not getting an unusually big yard, but you’re also not at a major disadvantage compared to your immediate neighbours.

4. What does a “Top 98%” ranking for living area actually mean in practical terms?
It means 98% of similar homes across Winnipeg have more living space—only 2% are smaller. This is an extremely small footprint for a single-family home. Even by city standards, this would be considered a small one-bedroom or diminutive two-bedroom unit. Many buyers would find it cramped for anything beyond minimalist living.

5. Is the older construction a dealbreaker, or can it be an advantage?
Homes built in the late 1800s often have solid timber framing and may be located in established, central neighbourhoods with mature trees and services. However, they also frequently come with knob-and-tube wiring, lead paint, asbestos in older insulation, and outdated plumbing. The advantage is character and location; the disadvantage is that almost every system may need to be replaced. The buyer must be comfortable with a long-term project.