Property Overview: 300 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home, built in 1945, presents a practical opportunity in Winnipeg’s Melrose area. Its key appeal lies in offering above-average interior space for its immediate neighborhood. With 1,120 square feet of living area, it ranks in the top 22% of homes on its street and in the broader Melrose area, meaning it provides more room than most comparable local properties. The lot size of 3,852 sq ft is typical for the area.
The property’s assessed value is notably below the citywide average, which may indicate a different value proposition compared to newer or more extensively renovated homes. This profile suggests a home that is well-sized for its locale but likely requires modernization. It would suit a value-conscious buyer, such as a first-time homeowner or an investor, who is comfortable with a property of this vintage and sees potential in its generous floor plan relative to the neighborhood. The appeal is grounded in space and location rather than turn-key finishes.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
Assessed value for tax purposes doesn't always equal market value and is influenced by many factors. In this case, the home's age (1945) and its value being below average citywide but around average for the Melrose area suggests it is characteristic of an established neighborhood with older housing stock.
2. How does the sold price history from 2019 relate to today’s value?
The property sold for an estimated $150k-$200k in 2019. This provides a historical benchmark, but market conditions, interest rates, and any changes to the property since then mean current value would be determined by a present-day market evaluation.
3. What does the "above average" living area ranking practically mean for me?
It means that within the Melrose area, this home offers more interior space than roughly 78% of similar properties. If you prioritize roominess over a newer build in this specific location, this is a relative strength.
4. Are the rankings for Year Built and Land Area a concern?
The rankings indicate the home is older and on a smaller lot than the Winnipeg average. However, both are around average for the Melrose neighborhood itself. This isn’t unusual; it simply confirms you are looking at a typical, established inner-city lot and a classic wartime-era home.
5. What might be the next steps if I'm interested?
Given the age of the home, a thorough inspection is essential to understand the condition of major systems (roof, wiring, plumbing, foundation). You should also review the "neighbourhood analysis page" mentioned in the details to compare this property visually with nearby homes on key metrics.