Property Overview & Key Characteristics
This home at 416 Regent Avenue E in Winnipeg's Melrose neighbourhood stands out for its generous proportions. Built in 1962, its primary appeal is its significant 2,160 square feet of living space, which ranks in the top 1% for size both on its street and in the local area. It sits on a 5,400 sqft lot, which is also notably larger than most nearby properties. Interestingly, while its assessed value is high for its immediate vicinity, it aligns more closely with the city-wide average, suggesting a property that offers above-average space for a relatively typical Winnipeg price point. The home last sold in the 2022 price range of $350k-$400k.
Its appeal lies in offering substantial interior space and a larger-than-average yard in a mature neighbourhood. It would particularly suit buyers who prioritize roominess over a brand-new build—growing families, multi-generational households, or those who work from home and need dedicated office space. The data suggests it's a property that delivers more house and land for your dollar within its specific community, making it a practical choice for value-conscious buyers seeking established character and space.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price?
Assessed values in Manitoba are set for municipal tax purposes and often don't reflect current market value. The recent sale price is a more accurate indicator of the home's worth in today's market.
2. How does the age of the home (1962) affect things?
A home from this era likely has mature landscaping and established neighbourhood character. Buyers should budget for updates consistent with its age, such as roofing, windows, or mechanical systems, while also appreciating the potential for solid construction and larger room sizes typical of the period.
3. The living area is in the top 1%. What does that mean practically?
It means this home has over twice the living space of the average home on Regent Avenue E. This translates to more bedrooms, larger common areas, more storage, or flexible spaces like a den or playroom that are harder to find in most homes in this specific area.
4. What are the implications of the lot size ranking?
With a lot size in the top 15% for the area, you have more outdoor space than most neighbours. This allows for greater privacy, larger gardens, ample parking, or room for additions like a shed, deck, or patio.
5. The city-wide rankings for size and value are less extreme than the local ones. What does this indicate?
This highlights the neighbourhood context. You're getting a property that is exceptionally large for Melrose, but more comparable to an average-sized home across all of Winnipeg. The value proposition is strongest if you want to live in this specific area and desire more space than what is typically available here.