Property Summary: 112 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home is defined by its efficiency and potential. Built in 1946, it sits on a notably generous lot of nearly 4,800 sqft for the Melrose area, offering more outdoor space than many neighbouring properties. The living area of 700 sqft is compact, placing it well below average for the street, neighbourhood, and city, indicating a cozy, low-maintenance interior footprint.
Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, underscored by a low assessed value. The significant lot size presents a clear long-term value: it offers ample room for gardening, expansion, or future redevelopment, making it a property where the land may be as valuable as the structure itself. This home would suit a first-time buyer comfortable with a smaller living space, an investor looking for a land-value opportunity, or a downsizer seeking a manageable property with a private outdoor area. It’s a practical choice for those who see potential beyond the current structure and prioritize lot size over interior square footage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific characteristics, primarily its smaller living area and older home, relative to the broader Winnipeg market which includes many larger, newer homes. It is more in line with values in its immediate local area.
2. What does the lot size ranking mean for me?
The lot is larger than many in the Melrose neighbourhood (ranking in the top 30%). This is a key asset, providing more private outdoor space than typical and offering future flexibility that smaller lots do not.
3. Is the smaller living area a major drawback?
It depends on your needs. The 700 sqft size means lower utility costs and less maintenance, but it requires efficient use of space. It’s ideal for individuals, couples, or those comfortable with a compact, minimalist layout.
4. How reliable are the past sold price ranges shown?
The ranges are based on public data. For precise historical sale figures, you must request the exact sold price via the provided email service, as this information is verified and supplied manually.
5. The home is 80 years old. What should I consider?
While the build year is around average for the street, a home of this age will likely require a thorough inspection. Focus on the condition of major systems (roof, foundation, plumbing, electrical) and budget for potential updates or maintenance consistent with a vintage property.