Property Overview: 737 Fleming Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 737 Fleming Avenue in Munroe East presents a compelling profile defined by its strong value and above-average space for the area. Built in 1956, it is a mature property on a standard-sized lot of just under 5,000 sqft. Its primary appeal lies in its generous living area of 1,076 sqft, which ranks in the top 8% for its street and top 25% for the wider Munroe East neighbourhood, offering more interior space than many comparable local homes.
The standout feature is its assessed value of $360,000, which places it in the elite top 3-5% for both its immediate street and neighbourhood. This suggests a property that is highly valued relative to its peers, potentially due to factors like updates, condition, or specific location advantages not detailed in the raw metrics. While its age is typical for the area, the combination of spacious interiors and a premium assessment creates an interesting dynamic: it offers the roominess often sought in newer builds, but within the established character of the neighbourhood.
This property would suit value-conscious buyers looking for a spacious home in a mature Winnipeg neighbourhood. It’s ideal for someone who appreciates statistical outperformance—a home that offers more square footage than its neighbours and carries a significantly higher assessed value, which could indicate solid past investments or intrinsic desirability. It may also appeal to buyers who see potential in a well-located, older home that already appears to be a leader within its local market context.
Section 2: Frequently Asked Questions
1. What does the "Elite" assessed value ranking actually mean?
It means this home's municipal assessed value is among the highest 3-5% of all similar properties on its street and in the Munroe East area. This typically reflects the city's estimation of its market value relative to others, which can be influenced by renovations, additions, premium lot features, or overall condition.
2. Is the living area considered large?
Yes, for this specific neighbourhood. At 1,076 sqft, it provides substantially more living space than the average home on Fleming Avenue (~1,010 sqft) and in Munroe East (~1,009 sqft). City-wide, however, it is closer to the average.
3. The home was built in 1956. Should I be concerned?
The age is typical for the area, as the averages on the street and in the neighbourhood are 1958 and 1960, respectively. The key consideration is the condition and updates of major systems (roof, wiring, plumbing, windows), which the high assessed value may partially reflect.
4. How does the last sold price (2020, CA$350k–400k) relate to the current assessed value?
The assessed value of $360k falls within the range of the 2020 sale. This indicates a stable valuation trajectory. The "Elite" ranking suggests that since that sale, its value has been assessed more highly than most neighbouring properties have appreciated.
5. The lot size is noted as "around average." What does that imply?
With a lot of 4,996 sqft, it is very close to the standard lot size for both Fleming Avenue and Munroe East. This means the property's appeal is likely driven by the home itself (its size, condition, and value) rather than an unusually large or small piece of land.