Property Overview
This home at 716 Regent Avenue W in Winnipeg's Melrose neighbourhood presents a solid, value-oriented opportunity. Built in 1955, it sits on a notably spacious 4,950 sqft lot, which is larger than most in the immediate area. With 932 sqft of living space, the house itself is typical for the local market but smaller than the Winnipeg city average. Its appeal lies in its above-average assessed value for the street and neighbourhood, suggesting a well-regarded property in its context, and the significant lot size offers potential for outdoor space or future expansion. It last sold in the $300k-$350k range in 2023.
This property would suit a practical first-time homebuyer looking for a foothold in a stable neighbourhood, or an investor seeking a property with a strong lot value relative to its peers. It’s a home that offers more in terms of land than interior square footage, appealing to those who prioritize outdoor space or see long-term value in the parcel itself.
Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
The home’s assessed value ranks in the top 25% for both its street and the broader Melrose area, indicating it is considered more valuable than many comparable nearby properties.
2. Is the living space small?
At 932 sqft, the living area is very close to the average for both Regent Avenue W and the Melrose neighbourhood. However, it is below the city-wide average, so buyers accustomed to newer suburban homes may find it compact.
3. What are the implications of such a large lot?
The 4,950 sqft lot is over 20% larger than the local area average. This is a key feature, providing extra outdoor space, better privacy, and potentially more options for gardening, additions, or redevelopment compared to neighbouring properties.
4. The home was built in 1955. What should I consider?
While the age is typical for the area, a home from this era may have original components like plumbing, electrical, or windows that could need updating. A thorough inspection is advised to understand the condition and any modernizations.
5. How can I find out the exact price it sold for in 2023?
The provided sold price is a public data range. To obtain the exact sale price, you can request it via email from the listing source, which provides this detail manually without using your email for marketing.