Property Overview: 510 Regent Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Regent Avenue W in the Melrose neighbourhood presents a specific value proposition centered on land and location. Built in 1950, its 869 sqft living space is modest and below the city-wide average, but it sits on a notably larger-than-average lot for its immediate area—approximately 4,949 sqft. This creates a clear contrast: the home itself is compact and older, but the property offers generous outdoor space relative to its peers on the same street.
The primary appeal lies in its affordability and potential. With a consistently below-average assessed value and recent sale prices in the $150k-$200k range, it represents a lower barrier to entry into the Winnipeg market. This isn't a move-in-ready showcase home; its appeal is to the buyer who sees value in the land and the structure's foundations. It would suit a first-time buyer comfortable with a project, an investor looking for a rental property with a sizable yard, or someone seeking a straightforward, functional home with room to expand outdoors, whether for gardening, storage, or future renovation. Its value is more in what it could be rather than in high-end finishes or size.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is for municipal tax purposes and is influenced by many factors, including home size, age, and recent sales in the area. This home's modest square footage and older age contribute to its lower assessment compared to newer or larger homes across Winnipeg.
2. What does the "larger-than-average lot" actually mean for me?
While the lot is around the city-wide average, it ranks in the top 22% for the Melrose area. This means you likely have more private outdoor space than many nearby properties, which is a valuable asset for privacy, recreation, or future projects like a shed, deck, or addition.
3. Is this a good investment property?
Given its price point and consistent sale history in a similar range, it could be a candidate for a rental property. However, its older age means potential maintenance costs should be factored into any investment calculations. Its appeal would be to tenants seeking affordability and yard space.
4. How does the living area compare to a typical condo or apartment?
At 869 sqft, the living space is comparable to a spacious two-bedroom apartment. The key difference is that you own the land beneath it, which is a significant portion of this property's value.
5. Where can I see more detailed information about the neighbourhood?
You can open the dedicated neighbourhood analysis page for this property to see it on a map alongside nearby homes, with detailed comparisons of year built, lot size, and assessed value. A link is provided in the full property details.