Property Overview
631 Munroe Avenue is a compact, century-old home in Winnipeg's Munroe East neighbourhood. Its key characteristics are defined by how it compares to other properties. The 848 sqft living space is modest but is actually closer to the average for its immediate street than for the wider area. The home was built in 1913, making it notably older than most houses in the city. Its lot size of 2,499 sqft is also smaller than typical lots in its comparison groups. The property’s assessed value is consistently below average across all comparisons, which is reflected in its recent sold price range of CA$150k–200k in 2022.
Where its appeal lies & suitable buyers:
The primary appeal of this property is its position as an accessible entry point into the Winnipeg market. Its below-average assessed value and sale price suggest a lower barrier to entry, which could appeal to first-time homebuyers or investors seeking a rental property. Its smaller size and lot may also suit those looking for a low-maintenance lifestyle. A less obvious perspective is its potential for someone interested in a home with historic character, given its 1913 construction, though this comes with the understanding that older homes often require specific maintenance. It would not suit buyers looking for ample space, a modern build, or a large yard.
Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
Based on the data, the home's assessed value is in the lower tier (Top 87%) compared to its neighbours on Munroe Avenue, meaning most homes on the street have a higher assessed value. However, its living area is closer to the street average. This suggests you are getting a smaller, older home at a correspondingly lower value point on this specific street.
2. What should I know about the home's age?
Built in 1913, this home is significantly older than most in Winnipeg. This often means potential for character but also necessitates careful inspection for the condition of foundational elements, plumbing, electrical systems, and insulation, which may need updating to modern standards.
3. How does the lot size impact the property?
At 2,499 sqft, the lot is smaller than the vast majority of comparable lots in the area. This limits expansive outdoor space but could mean less yard work. It's important to verify local zoning bylaws if you have plans for extensions or additions, as space may be constrained.
4. What does the sold price history tell me?
The home sold for an estimated $150,000–$200,000 in 2022. This range aligns with its persistently below-average assessed value, indicating a market trend of pricing it as a more affordable option. For the exact sale price, you can request details via email from the listing source.
5. Who are the most likely neighbours?
The nearby properties on Munroe Avenue are of similar vintage (e.g., a 1949 home next door at 663 Munroe), suggesting a street with older, established homes. The similar assessed values of comparison properties in other neighbourhoods indicate this price point typically buys compact, older homes across various parts of Winnipeg.