Property Overview: 504 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a classic, early 20th-century property built in 1912, offering a blend of historic character and practical affordability. With 956 sqft of living space, it is comfortably sized for the local Melrose area, where it ranks around the average compared to immediate neighbors. The lot is a notable feature at 4,455 sqft, providing above-average outdoor space for the neighborhood—a valuable asset for gardening, recreation, or future expansion.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. Its assessed value is notably below both the city-wide and area averages, suggesting a potentially lower property tax burden and an opportunity for buyers mindful of ongoing costs. This is a property that suits practical, value-oriented buyers—first-time homeowners, investors looking for a rental property, or downsizers seeking a manageable footprint without a tiny lot. It appeals to those who appreciate the potential of an older home and are prepared for the maintenance that comes with a 114-year-old structure, balanced by the benefit of a larger, usable parcel of land.
Section 2: Frequently Asked Questions
1. What does the "below average" city-wide ranking for living area mean for daily living?
While the home's square footage is below the Winnipeg average, it is typical for its specific neighborhood and era. This indicates a efficient, cozy layout rather than an unusually small home, and it aligns with the character and scale of many houses in the area.
2. The assessed value seems low. Does that indicate a problem with the property?
Not necessarily. A lower assessed value often reflects the home's age, size, and specific local market conditions. It can be an advantage, resulting in relatively lower property taxes. However, it's wise to understand if recent renovations or additions are not yet reflected in the assessment.
3. As a 1912 home, what should I be most concerned about during an inspection?
Given its age, a thorough inspection is crucial. Key focus areas should include the foundation, roof structure, electrical wiring (which may have been updated over time), plumbing, and insulation. The inspection will clarify the difference between historic charm and necessary modernization.
4. How does the larger lot size compare to newer homes?
The lot is a significant perk. At over 4,400 sqft, it provides more yard space than many modern infill properties. This offers room for additions like a garage, shed, or deck, and provides a sense of privacy and space that can be hard to find in this price range.
5. The last sale was between 2020-2025. How can I get the exact price?
The exact sold price is not publicly displayed in detail due to local regulations. You can request the precise figure by emailing the listing service via the "Get exact sold price history" button. They provide this information manually without using your email for marketing.