413 Melrose Avenue E

Property Overview: 413 Melrose Avenue E, Winnipeg

Section 1: Key Characteristics & Appeal

This home is a classic, compact bungalow built in 1920, offering just over 1,000 square feet of living space on a modest 2,700 sqft lot in the Melrose neighbourhood. Its primary appeal lies in its affordability and its position as a relatively standard home for its immediate area. The living space and assessed value are both very typical for Melrose Avenue and the wider Melrose neighbourhood, meaning it fits right in without standing out. Compared to the Winnipeg city-wide average, however, the home is notably smaller, on a smaller lot, and has a significantly lower assessed value, highlighting its role as a more accessible entry point into the market.

The property would suit first-time buyers or practical downsizers looking for a straightforward, no-frills home in an established community. Its smaller scale means lower maintenance and utility costs, a key consideration for budget-conscious owners. A thoughtful perspective for this older home is to see its smaller lot not just as a limitation, but as a manageable outdoor space that requires less time and resources to maintain, which can be a significant lifestyle benefit. The data suggests you are buying a home that is average for its street, which can offer stability and predictability rather than the risk or premium of an outlier property.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value (listed as $27,600) is for municipal tax purposes. The market value (what a buyer would pay) is typically higher, as suggested by the home's last recorded sale price range of $200k-$250k in 2017.

2. How does the lot size impact potential for expansion or renovation?
At 2,700 sqft, the lot is significantly smaller than average for the city and even for the street. This may limit possibilities for large additions, a detached garage, or extensive outdoor amenities. Any renovation plans should carefully consider zoning bylaws and setback requirements.

3. The home is older than most on the street. Should I be concerned?
The home, built in 1920, is older than about 70% of the homes on Melrose Avenue E. This warrants a particularly thorough inspection to assess the condition of foundational elements, plumbing, electrical systems, and insulation. However, many older homes also possess character and solid construction not found in newer builds.

4. What does it mean that the home's metrics are "average" for the street?
It means that for living space and assessed value, this home ranks close to the middle compared to its direct neighbours. This can be positive, indicating it's not over-improved or under-sized for the area, which helps with resale consistency and property tax proportionality.

5. How can I find out the exact past sale price?
The provided sale price is a public data range. As noted on the detail page, you can request the exact historical sale price by emailing the listing service directly. They provide this as a manual, no-spam service.