Property Overview: 400 Melrose Avenue E, Winnipeg
Key Characteristics & Appeal
This home presents a compelling opportunity centered on its generous, above-average lot. Built in 1940, the 935 sqft house offers living space that is typical for the established Melrose neighborhood. Its assessed value is also in line with local averages. The standout feature is the 6,821 sqft land area, which ranks in the top 1% on its street and top 3% in the broader Melrose area. This sizable yard is a significant asset, offering rare potential for expansion, gardening, or outdoor living within the city.
The appeal lies in this land-to-structure value proposition. The home itself is a manageable size for a small household or first-time buyer, while the property footprint suggests future potential. It suits a practical buyer who values space and possibility over a move-in-ready, modern finish. It would be ideal for someone with renovation or expansion plans, a buyer prioritizing outdoor space for family or hobbies, or an investor seeing the underlying value in the lot size within a mature neighborhood. Recent sale history indicates steady demand in its price range.
Frequently Asked Questions
1. What does the "Elite" ranking for Land Area actually mean?
It means this property's lot size of 6,821 sqft is larger than 99% of the lots on Melrose Avenue E and 97% of those in the wider Melrose area, making it a notably spacious parcel for the location.
2. The house seems smaller and older than the city average. Is that a concern?
Not for this neighborhood. The living area and year built are both very typical for Melrose, where homes are generally older and cozier. The value here is in the established community and the disproportionate size of the land compared to neighboring properties.
3. How reliable are the past sold price ranges shown?
The ranges are based on public data. For precise historical sold prices, you must request the information directly via the provided email service, as exact sale prices are not publicly disclosed in Manitoba.
4. What could the large lot size mean for me as a buyer?
Beyond privacy and outdoor space, it could provide flexibility for future additions like a garage, workshop, or home extension. It may also offer better drainage and landscaping opportunities than smaller, denser lots. However, always verify zoning bylaws and setback requirements before planning.
5. The assessed value seems low compared to the city-wide average. Why?
The city-wide average includes all property types and newer, larger homes across Winnipeg. This assessment reflects the home's specific characteristics, age, and its value within the local market context of Melrose, which features more modest, older homes.