Property Overview: 224 Neil Avenue, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, value, and location within Winnipeg's Munroe West neighborhood. Its primary strength is its generous 1,512 sqft living area, which ranks in the top 3% for the local area and the top 9% on its own street, offering significantly more interior space than most comparable homes nearby. Paired with an above-average 6,305 sqft lot for the city, it provides substantial room both inside and out.
The appeal lies in this standout space relative to its assessed value of $360,000. In the immediate Munroe West area, this value is elite (top 3%), meaning you get a large home in a neighborhood where property assessments are typically much lower. It represents a value-conscious entry into a spacious property. The home’s age (built 1926) suggests classic character but also implies a need for updates and diligent maintenance, a trade-off for its established charm and larger lot.
This property would best suit a practical buyer who prioritizes interior and yard space over modern construction. It’s ideal for someone ready to take on a century-old home, appreciating its potential and proven value within the community, rather than seeking a turn-key new build. It’s a solid choice for those looking to get more house for their dollar in a specific location, with an understanding that maintenance and updates are part of the journey.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $360,000 is for municipal tax purposes. The actual selling price is determined by the market. Historical data shows it last sold for between $300,000 and $350,000 in early 2017, but current conditions will dictate the new price.
2. What does the home’s age (1926) mean for a buyer?
A 100-year-old home often features durable construction and classic architectural details. However, it likely requires careful attention to aging components like plumbing, electrical, the roof, and foundation. Budgeting for ongoing maintenance and potential updates is essential.
3. The lot size seems average for the city but smaller than others on the street. Is that a concern?
At over 6,300 sqft, the lot is still a great size city-wide and offers ample outdoor space. While some neighboring lots are larger, this property compensates with a significantly larger living area than those same neighbors, shifting the value proposition indoors.
4. How can I verify the exact historical sale prices?
The site provides sold price ranges based on public data. For fully verified and exact sale figures, you must request a manual lookup via email, as MLS transaction records are not displayed here due to industry regulations.
5. The home ranks "elite" for value in Munroe West. What does that indicate?
This ranking means the assessed value is in the top 3% for the area. In this context, it suggests the home is considered a higher-value property within Munroe West, which generally has lower average values than the city as a whole. It highlights the property as a substantial asset in its immediate community.