Property Overview
523 Melrose Avenue W is a 920 sqft bungalow built in 1961, situated on a 3,299 sqft lot in Winnipeg's Melrose neighbourhood. Its key appeal lies in its relative modernity compared to other homes on the street and in the immediate area, as it is newer than many neighbouring properties. The home presents a practical, no-frills opportunity. Its assessed value is modest and in line with area averages, suggesting a manageable entry point into the market.
This property would suit a first-time buyer or an investor looking for a straightforward, functional home without the premium of a larger lot or extensive square footage. It’s a home for those who prioritize location and a simpler footprint over size, potentially offering lower maintenance and utility costs. A thoughtful perspective is that while the lot is smaller than the city average, it may represent a more manageable yard for those not seeking extensive outdoor upkeep.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
At 920 sqft, the living area is very close to the average for both Melrose Avenue and the broader Melrose area, making it a typical-sized home for this specific location.
2. Is the assessed value a reliable indicator of the selling price?
The assessed value is for municipal tax purposes and is often lower than market value. It’s a useful benchmark, but the final sale price will be determined by current market conditions. This home last sold for an estimated $200k-$250k in 2016.
3. What does it mean that the home is "above average" for year built?
Built in 1961, this home is newer than many on its street and in the area, where average build years are 1948 and 1947, respectively. This could imply potentially fewer issues with outdated building materials or systems common in older homes.
4. How does the lot size impact potential?
The lot is 3,299 sqft, which is smaller than the city average but typical for the street. This limits possibilities for large additions but may be ideal for those seeking minimal yard maintenance.
5. How can I find out the exact historical sale prices?
The provided sale prices are estimated ranges from public data. You can request the exact sold price history by emailing the listing service, which provides this detail manually without using your email for marketing.