Property Overview: 526 Melrose Avenue W
Key Characteristics & Buyer Profile
This 736 sqft bungalow, built in 1955, presents a distinct value proposition centered on its land. Situated on a 5,169 sqft lot, the property offers a parcel size that is notably larger than most in the immediate Melrose area and on its specific street. This creates potential for expansion, gardening, or outdoor space that is uncommon for the neighbourhood. The home’s assessed value ranks well above the local average, suggesting the municipal assessment recognizes the underlying land value or recent improvements.
The appeal here is pragmatic. It suits a first-time buyer, an investor, or a downsizer looking for a solid entry into the Winnipeg market with a manageable living space and a lot that holds future potential. The house itself is compact and older, so it would best fit someone comfortable with a character home, possibly willing to undertake updates over time. A less obvious perspective is that this property represents a "land bank" opportunity in an established area; the value is anchored more in the property than the structure, which can be a strategic, long-term holding.
Frequently Asked Questions
1. Why is the assessed value relatively high for a smaller, older home?
The assessed value is likely elevated due to the combination of the larger-than-average lot size for the area and the property's recent sale history. Value assessments consider land size and market activity, not just the living area or age of the home.
2. How does the smaller living area impact livability and resale?
At 736 sqft, the home is compact and efficient. It suits individuals, couples, or those looking to minimize space and upkeep. While below average in size for the city, this can mean lower utility costs and less maintenance, though it may appeal to a narrower segment of buyers compared to larger homes.
3. What does the lot size actually offer me?
The 5,169 sqft lot is a key feature. It provides ample yard space, room for additions like a garage or shed, and more privacy than smaller lots in the area. It’s a tangible asset that offers flexibility that many nearby properties do not.
4. The home was last sold between 2020-2025. What does that mean?
The property has changed hands relatively recently. This suggests it entered the current market cycle not long ago, and any renovations or updates made by the previous owner during that period could be reflected in its current condition and value.
5. How can I get the exact historical sale price?
The exact sold prices are not publicly displayed in detail. You can request the precise history by emailing via the provided form on the listing page. The service provides the accurate figure manually, typically by the end of the same business day.