748 Ross Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1994-built home with 768 square feet of living space on a 4,838-square-foot lot in Winnipeg’s West Alexander neighbourhood. What stands out immediately is the contrast between its modest size and its strong value proposition. The living area is small by street, neighbourhood, and city standards—ranking in the bottom quartile locally and bottom 7% citywide. Yet the assessed value is well above average for both the street and the neighbourhood, and the lot is significantly larger than surrounding properties (top 17% both on Ross Avenue and in West Alexander). The home is also notably newer than its neighbours, with a build year ranking in the top 5% for the area.

The appeal here lies in the land-to-structure ratio. Buyers get a relatively modern home on a generous lot in a neighbourhood where most houses are older and sit on smaller parcels. The property offers the chance to own something built in the mid-90s—free from many of the maintenance headaches of century-old homes—while having outdoor space that’s uncommon in this part of town. It would suit someone who values a turnkey interior and a usable yard over a large floor plan, or an investor looking for a lot with future development potential in a central location. It’s less suited for buyers who need substantial indoor square footage or are comparing against newer suburban builds.

Frequently Asked Questions

1. Is the assessed value of $230k accurate for a home this size?
Yes, and it reflects the premium the market places on the land and the newer construction. The home’s value is above average for the street and neighbourhood despite the small living area, meaning the lot and build year are driving the number. Citywide, $230k is below the average ($390k), which is consistent with a smaller home in an older, central area rather than a sprawling suburban property.

2. How does the lot size compare to typical Winnipeg properties?
At 4,838 square feet, this lot is about 26% smaller than the citywide average of 6,570 sqft, but it’s larger than the vast majority of lots on Ross Avenue and in West Alexander, where averages hover around 3,500 sqft. So it’s a big lot for the immediate area, even if it’s not large by broader city standards.

3. What does the “1994” build year mean in practical terms?
It means the home is about 30 years old, which puts it in a sweet spot: it’s modern enough to avoid the foundation and knob-and-tube wiring issues common in pre-war homes, but it’s also old enough that major systems like the roof or furnace may be nearing replacement age. It’s not new construction, but it’s far newer than most of the neighbourhood (average build year 1921).

4. How does the living area affect day-to-day living?
768 square feet is tight by modern standards, especially for a family. It’s roughly the size of a one-bedroom apartment with a den, or a small two-bedroom bungalow. The layout matters here—if it’s efficient (e.g., minimal hallways, open concept), it can feel bigger than the number suggests. But anyone used to 1,000+ sqft should expect a significant downsize in indoor space.

5. Is this property a good candidate for renovation or expansion?
Potentially, yes. The large lot gives room to add square footage, either by building an addition or a secondary structure (subject to zoning). But the assessed value already reflects a premium for the land, so buying it solely to scrape and rebuild would be a high-cost starting point. Renovating the existing structure to maximize the floor plan is more realistic. Check local bylaws before planning any major changes.