Property Summary: 328 Regent Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a study in contrasts, presenting a clear value proposition for a specific buyer. Its key characteristic is its modest 728 sqft living area, which is notably compact compared to most homes on its street, in the Melrose area, and across Winnipeg. Built in 1953, it sits on a standard city lot of just over 4,000 sqft.
The primary appeal lies in its financial profile. Despite its smaller size, its assessed value of $29,900 is above average for Regent Avenue E and aligns with the typical value in Melrose. This suggests the property may offer an efficient entry point into the neighborhood, potentially with lower property taxes relative to its assessed value. Its last recorded sale was between $300k-$350k in 2021.
This property would best suit a pragmatic, budget-conscious buyer—perhaps a first-time homeowner, an investor, or someone looking to downsize. The buyer would prioritize location and lot ownership over interior space, seeing the compact home as a manageable footprint or a foundation for future expansion. It’s a practical choice for someone comfortable with a home that offers value through its land and position within the community rather than through square footage.
Section 2: Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ($29,900) is for municipal tax purposes. The market value is what a buyer would pay, which is significantly higher, as indicated by the 2021 sale price range of $300k-$350k.
2. How does the small living area affect livability?
At 728 sqft, the home is significantly smaller than the area average (~974 sqft). It will require efficient use of space and likely suits individuals, couples, or those comfortable with a cozy layout. It may not be ideal for a growing family needing multiple bedrooms or dedicated living areas.
3. What does the sold price history tell us?
The home sold for $200k-$250k in 2016 and $300k-$350k in 2021. This indicates substantial appreciation over that five-year period, reflecting broader market trends and possibly specific updates to the property.
4. Why is the assessed value relatively high for the street if the house is small?
An assessed value that ranks above average on the street suggests the municipality sees value in the property beyond just the building size. This could be due to the lot itself, the home's condition, or recent improvements that are factored into the assessment.
5. Are the nearby listed properties direct comparisons?
Not exactly. The listed nearby properties (e.g., 307 Regent Ave E) have different sizes, values, and build years. They provide context for the neighborhood's variety but are not direct "apples-to-apples" comparables for this specific, more compact home.