202 Regent Avenue E

Property Overview

202 Regent Avenue E is a compact, post-war home in Winnipeg's Melrose neighbourhood. Built in 1947, it sits on a standard-sized lot of just over 4,000 sqft. The home's defining characteristic is its modest 600 sqft living area, which is notably smaller than most homes on its street, in the area, and across the city. Its assessed value is very low compared to the Winnipeg average, but is typical for its immediate vicinity.

The appeal here is fundamentally about value and potential. The low assessment and recent sale price point make it one of the most accessible entry points into homeownership in the city. It suits a specific buyer: a first-time purchaser, an investor, or a downsizer seeking minimal property tax and utility costs who is comfortable with a cozy footprint or sees value in a future expansion (subject to permits). Its average rankings for lot size and age on the street suggest it fits the neighbourhood's fabric, offering a chance to live in an established area without a premium price tag.

A less obvious perspective is that this property represents a "blank slate" within a context of stability. While the home itself is small, the lot is consistent with the area, providing outdoor space that many newer, denser developments lack. For the right buyer, this balance of ultra-affordable structure and usable land is the core opportunity.

Frequently Asked Questions

1. Why is the living area so much smaller than the average home?
This is a compact, post-war home typical of its era. At 600 sqft, it is significantly smaller than both neighbouring homes and the city-wide average, which is a primary reason for its lower assessed value and price point.

2. How can the assessed value be so low compared to the city average?
The assessed value of approximately $26,100 is in line with the average for Melrose and Regent Avenue E. It appears very low city-wide because assessments are based heavily on home size, age, and type, and this small home contrasts with the average larger, sometimes newer Winnipeg property.

3. Who would this property be best suited for?
It is ideally suited for a budget-conscious first-time homebuyer, an investor looking for a rental property with low carrying costs, or someone downsizing who prioritizes low ongoing expenses over space.

4. What does the sold price history indicate?
The home sold between $150,000 and $200,000 in 2024. This recent sale in a known price range provides a solid, current benchmark for its market value, confirming its position as an affordable option.

5. Is there potential to expand or renovate the home?
The lot size is standard for the area. While any expansion would require proper permits and zoning approval, the existing lot does not present an unusual constraint compared to neighbouring properties, making a future renovation or addition a feasible consideration for a buyer.