Property Overview: 114 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home, built in 1945, presents a classic Winnipeg character property with a practical layout. Its key appeal lies in offering more space than many comparable homes in the immediate area. With 1,073 square feet of living area, it ranks in the top 29% on its own street and top 28% in the broader Melrose area, meaning it provides above-average interior space for the neighbourhood. The lot size of 4,786 square feet is also generous for the area, offering ample outdoor space.
The property’s assessed value is notably below the city-wide average, which can indicate a different value proposition. This combination—more house and land for the dollar in its local context—creates a distinct profile. It would suit a buyer looking for a character home with room to grow or garden, who is mindful of value within a specific neighbourhood rather than city-wide comparisons. It’s a practical choice for someone prioritizing interior and yard space over a newer build or a premium city-wide assessment.
Section 2: Frequently Asked Questions
1. Why is the assessed value below average if the living space is above average?
Assessment values are based on a mass appraisal system considering many factors, including age, condition, and recent sales in the area. An older home (1945) with a lower assessment can sometimes reflect its original character and potential updating needs, not just its square footage.
2. How significant is the home's age (81 years)?
As a 1945 build, major systems like plumbing, electrical, and the roof may be original or have undergone various updates. A thorough inspection is essential to understand the condition and any required investments, which is typical for homes of this era.
3. What does the sold price history range (CA$150k–200k in 2016) tell me?
This provides a historical benchmark, but the market has evolved significantly since 2016. It’s most useful for understanding past value trends rather than determining current market price, which should be based on recent comparable sales.
4. The lot is larger than average for the area. What are the implications?
A larger lot (4,786 sq ft) offers more privacy, gardening space, or outdoor living potential than neighbours on standard lots. It may also provide future flexibility, though local zoning bylaws would dictate any development potential.
5. How reliable are the "top percentile" rankings provided?
These rankings are a helpful, data-driven tool to compare this home against specific groups (street, area, city) for metrics like size and value. They offer objective context, showing where this property stands relative to its peers, which is invaluable for neighbourhood-specific comparison.