Property Overview: 505 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 505 Melrose Avenue E is a practical, mid-century bungalow built in 1964. With 1,045 sqft of living space on a 3,305 sqft lot, its size is very typical for the established Melrose neighborhood, offering a manageable footprint. The data reveals a key perspective: this home is notably newer than many on its street and in the immediate area, which may suggest updated infrastructure or a different architectural style compared to the area's average home built in the late 1940s.
Its primary appeal lies in its position as a solid, average-performing property within a stable community. It’s not an outlier in size or assessed value for the locale, which can indicate predictability and lower risk for a buyer. The lot, while smaller than the Winnipeg city average, is consistent with the neighborhood's character.
This property would suit first-time buyers or downsizers looking for an entry into a mature neighborhood without the premium price of a larger lot or a brand-new home. It’s also a sensible fit for an investor or homeowner who values a "blank slate" property from the 1960s that may offer more straightforward modernization opportunities than its older neighbors.
Section 2: Frequently Asked Questions
1. How does the 1964 build year affect this home?
Being built in 1964 makes this home significantly newer than many in the Melrose area. This could mean construction methods and materials (like wiring and plumbing) are from a more modern era than the neighborhood's pre-1950 average, potentially reducing some concerns associated with very old homes.
2. Is the assessed value a good indicator of the market price?
The assessed value for taxation purposes is distinct from market value. This home's assessed value is consistent with area averages but is well below the city-wide average for comparable homes, reflecting the neighborhood's more affordable price point. The sale history shows steady appreciation.
3. What does the lot size mean for me?
At 3,305 sqft, the lot is perfectly standard for Melrose. It provides adequate outdoor space for gardening or relaxation but is not oversized, which translates to less maintenance. It is, however, noticeably smaller than the typical Winnipeg lot, which is something to consider if expansive yard space is a priority.
4. Who are the typical neighbors?
The nearby properties are very similar in style and era, suggesting a uniform, established streetscape. The direct neighbors on Melrose Avenue E are homes of a similar scale, indicating a consistent community character.
5. Where can I see more detailed context for this property?
A dedicated neighbourhood analysis page is available, showing this home on a map alongside nearby houses with detailed comparisons of year built, living area, assessed value, and lot size. This helps visualize exactly how it fits within its immediate context.