Property Summary: 301 Melrose Avenue E, Winnipeg
Key Characteristics & Buyer Appeal
This is a modest, post-war bungalow built in 1947, offering a practical 872 sqft of living space on a 3,501 sqft lot in the Melrose neighbourhood. The data reveals a home that is very typical for its immediate street and area in terms of size, age, and lot, but sits below the Winnipeg city averages in these categories. Its most defining characteristic is its significantly below-average assessed value, which is consistent from the street level right up to the city-wide comparison.
The appeal lies in its affordability and functionality as a starter home or a straightforward investment property. It suits first-time buyers seeking an entry point into the market without premium costs, or practical investors looking for a rental property with a lower tax assessment. A less obvious perspective is that its "average for the area" status provides a stable, predictable benchmark; there's little risk of over-improving for the neighbourhood, which can be a prudent approach for a hands-on owner. The lot size, while smaller than the city average, is manageable for low-maintenance living or a simple garden.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's characteristics and market area. This home's smaller size, older age, and typical lot for its neighbourhood result in an assessment that is below the broader Winnipeg average, which includes many newer and larger homes.
2. What does the "sold price" range (CA$200k–250k in 2016) tell me?
It provides a historical benchmark from nearly a decade ago, indicating the home's market value at that time. For a current valuation, this should be considered alongside more recent sales, market conditions, and the home's present state.
3. How should I interpret the ranking percentages (e.g., Top 60% for Living Area)?
These rankings compare this property to groups of "comparable homes." For example, "Top 60%" for living area on its street means its square footage is greater than 60% of similar homes on Melrose Avenue E. It's a relative measure of how it stacks up against its immediate peers.
4. Is a 1947 home a concern?
Not inherently. Many homes of this era in Winnipeg are solidly built. However, it does mean that major systems (like plumbing, electrical, or the roof) may be at or beyond their typical lifespan, so a thorough inspection is essential to understand the condition and any needed updates.
5. Who might the "similar assessed value" properties be relevant for?
These listings show other homes with the same municipal tax assessment. They can be useful for identifying alternative options in your budget range from a property tax perspective, though they may be in different neighbourhoods and have different features.