Property Overview
127 Melrose Avenue E is a 1,010 sqft home built in 1920 on a 4,053 sqft lot in Winnipeg's Melrose neighbourhood. Its key appeal lies in its position as a modest, historically grounded property within an established community. The home offers a practical footprint that is typical for its immediate area, though it sits below the city-wide averages for size, lot, and assessed value. This creates a distinct profile of a character home that is financially accessible, likely appealing to those seeking an entry point into the market or a simpler footprint without the premium of a newer, larger property.
Key Characteristics & Appeal
This home is defined by its vintage charm and its context within the local market. Its living space is very close to the average for both Melrose Avenue and the broader Melrose area, indicating it fits the neighbourhood's typical scale. The significantly below-average assessed value, both locally and city-wide, is its most striking feature. This suggests a potentially lower property tax burden and an opportunity for buyers comfortable with a home that may require updates or modernization. The lot size is standard for the street, offering a balanced outdoor space.
The property would suit a first-time buyer or a practical downsizer looking for a home with character in a long-established neighbourhood. It’s also a candidate for a patient investor or renovator who sees value in the structure and location, and is prepared to work with the realities of a 106-year-old home. Its appeal is less about luxury or size and more about affordability, community roots, and the potential inherent in a classic property.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by factors like home size, age, condition, and recent sales in the area. This home’s age (1920) and modest size relative to the city’s newer, larger housing stock are the primary reasons for the lower assessment.
2. What should I consider with a home built in 1920?
While offering charm, a home of this age may have older building materials, electrical, plumbing, and insulation systems. A thorough inspection is essential to understand the condition and potential future investments needed for maintenance, updates, or energy efficiency improvements.
3. How does the sold price history from 2017 relate to today’s value?
The sold price range from 2017 (CA$150k–200k) is a historical data point. Current market value is determined by present-day market conditions, any changes made to the property since then, and recent comparable sales. It provides context but is not a current appraisal.
4. The home ranks "below average" in many city-wide metrics. Is this a concern?
Not necessarily. This primarily indicates the home is more modest and older than the Winnipeg average. For buyers seeking an affordable, character-filled home in a specific established neighbourhood, this profile is common and can represent a value-oriented opportunity compared to newer subdivisions.
5. Can I get the exact historical sold price?
Yes, the exact sold price is available by request. You can provide your email via the button on the listing page, and the precise figure will be sent to you manually, typically by the end of the same day.