Property Overview: 215 Melrose Avenue E, Winnipeg
Key Characteristics & Appeal
This is a compact, century-old home built in 1920, offering a modest 696 sqft of living space on a 2,702 sqft lot in the Melrose neighbourhood. Its primary appeal lies in its position as an accessible entry point into the Winnipeg market, underscored by a very low municipal assessed value of $23,600. The home last sold in the $250k-$300k range in 2022.
The data reveals a property that is significantly below average in size and assessed value compared to its immediate street, broader neighbourhood, and the entire city. This isn't a home for those seeking ample space, but rather a practical opportunity. It would best suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimal footprint with lower property taxes. A thoughtful perspective is that its age and smaller scale could represent a manageable renovation project in a mature area, allowing for personalization without the overwhelming scope and cost of a larger, newer home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price?
Municipal assessed value in Manitoba is used for property tax calculation and is not intended to reflect current market value. The significant gap between the assessed value ($23,600) and the last sale price ($250k-$300k) is common, especially for older homes, and indicates the market places a much higher value on the property than the tax assessment does.
2. How does the small living area compare practically?
At 696 sqft, this is a notably compact home, ranking in the bottom 7% for size on its own street. It typically indicates a one-bedroom or small two-bedroom layout. Buyers should be prepared for efficient living and minimal storage space.
3. What does the "below average" ranking for Year Built mean?
The home was built in 1920, making it older than about 73% of homes in the Melrose area. This ranking confirms its status as a century-old property. Buyers should budget for potential maintenance or updates common to homes of this era, while also appreciating its character.
4. Is the lot size a disadvantage?
The lot is smaller than average for the area (2,702 sqft vs. a neighbourhood average of ~4,100 sqft), but it still provides outdoor space. For the right buyer, this means less yard maintenance. Its size is not atypical for the core of the city.
5. How do I find out the exact historical sold price?
The exact sale prices are not publicly displayed in detail. As noted on the listing, you can request the precise sold price history by emailing the provided service. They manually provide this data without using your email for marketing.