Property Overview: 418 Melrose Avenue W
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot. Built in 1955, the 736 sqft house is compact, ranking below average in size for its street, neighborhood, and city. However, its 5,277 sqft land area is notably larger than most lots on Melrose Avenue and in the immediate area, offering above-average outdoor space.
The primary appeal lies in this land-to-structure ratio. It suits a buyer comfortable with a smaller, older home who prioritizes yard space for gardening, recreation, or future expansion over immediate interior square footage. The assessed value is consistent with the local area but sits below the citywide average, suggesting a potentially accessible entry point into the market. It’s a practical choice for a first-time buyer, an investor, or someone seeking a lower-maintenance footprint without sacrificing outdoor privacy. A thoughtful perspective is that this property represents the "land play" – the value and potential are tied more to the parcel itself than the existing structure.
Section 2: Frequently Asked Questions
1. How does the home's size compare practically?
At 736 sqft, the living area is significantly smaller than the local averages (around 980 sqft). This indicates a classic, efficient layout likely with fewer rooms, suited for individuals, couples, or those comfortable with compact living.
2. What does the assessed value indicate?
The assessed value ($29,900) is typical for Melrose Avenue but is far below the citywide average for comparable homes. This typically reflects the home's age, size, and local market conditions, not a direct market sale price. The last recorded sale was between $200k-$250k in 2016.
3. Is the large lot a major advantage?
Yes, relatively. The lot is over 5,200 sqft, ranking in the top 15-17% for the street and neighborhood. This is the property's standout feature, offering more space than surrounding properties for a similar assessed value.
4. What should I consider about the year built (1955)?
The home is 71 years old, which is around the average age for the area. Buyers should budget for maintenance and updates consistent with a home of this era and consider the potential for older mechanical systems.
5. How can I get the exact historical sale price?
The exact sold price is not publicly displayed. The site provides a range based on public data but offers to manually send the precise figure via email upon request, at no cost and without marketing spam.