Property Overview: 404 Melbourne Avenue, Winnipeg
Key Characteristics & Appeal
This 864 sqft bungalow, built in 1948, presents a classic Munroe West offering with a compelling value proposition. Its primary appeal lies in its strong positioning within its immediate context. The home sits on a generous 4,898 sqft lot, which is notably larger than many on its own street and in the area, offering valuable outdoor space and potential. With an assessed value of $298,000, it ranks well above average for both Melbourne Avenue and the broader Munroe West neighbourhood, suggesting it is a higher-caliber property within its local market. However, its smaller living area and older vintage place it below the citywide averages for newer, larger homes, highlighting its character as a more traditional, established neighbourhood home.
This property would suit a first-time buyer or downsizer looking for a manageable footprint in a stable neighbourhood, with the bonus of a larger-than-typical lot. It’s also a practical choice for a value-focused buyer who prioritizes a strong assessment and lot size over modern square footage. The data suggests you are paying for a premium lot and location within the community, rather than extensive interior space.
Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
The home’s $298,000 assessment is above the average for both Melbourne Avenue and the Munroe West area. This indicates it is likely viewed as a higher-value property within its immediate peer group, possibly due to its larger lot size, condition, or specific location on the street.
2. Is the living space smaller than average?
Yes. At 864 sqft, the living area is modest. It is slightly below the average for Melbourne Avenue and Munroe West, and significantly below the citywide average for homes. Buyers should be comfortable with a more compact, efficient layout typical of its era.
3. What does the lot size mean for me?
At nearly 4,900 sqft, the lot is a standout feature. It’s larger than most on the street and provides ample room for gardening, recreation, or future expansion like a shed or deck, which is a notable advantage in an established neighbourhood.
4. The home was last sold in 2017. How can I find the exact price?
The public data shows a sold price range of CA$250k–300k for August 2017. Due to data licensing rules, exact sold prices are not published online here. You can request the precise historical sale figures by email, and the service will provide them manually at no cost.
5. How does its age affect the purchase?
Built in 1948, the home is older than the citywide average but typical for the area. This means potential for classic charm but also likely necessitates a close inspection of major aging components like the roof, foundation, plumbing, and electrical systems to understand any needed updates or maintenance.