Property Overview
502 Trent Avenue is a 758 sqft home built in 1924, situated on a 4,150 sqft lot in Winnipeg's Munroe West neighbourhood. With an assessed value of $240k, it presents a specific, value-oriented profile in the local market.
Key Characteristics & Appeal
This home’s primary appeal lies in its position as an affordable entry point into homeownership. Its assessed value is notably below the Winnipeg city average, offering relative value within its immediate area. The lot size is generous for the street, providing more outdoor space than many neighbouring properties—a potential advantage for gardening, expansion, or simply having more breathing room.
The house itself is compact and historic, requiring a buyer comfortable with a smaller footprint and the potential maintenance considerations of a century-old structure. It would suit first-time buyers, downsizers, or practical investors looking for a lower-cost holding. Its value is contextual: while its size and age place it in the lower tiers city-wide, it holds a more middle-of-the-road position on its own street, suggesting Trent Avenue is a neighbourhood of modest, older homes. The appeal here isn't about luxury or size, but about fundamentals: land, location, and a manageable price point for a single-family home.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $240k is for municipal tax purposes. While it provides a benchmark, the final sale price is determined by the market. Recent sold data for the area suggests homes in this range have sold between $250k and $300k.
2. What are the implications of the home being over 100 years old?
While offering classic charm, a 1924 build will likely require diligent upkeep. Prospective buyers should budget for potential updates to major systems like wiring, plumbing, or the roof, and prioritize a thorough inspection.
3. The home is smaller than average. How does the lot size help?
At 4,150 sqft, the lot is larger than many on Trent Avenue. This compensates for the smaller living area by offering valuable outdoor space, which could be used for recreation, storage, or future projects like a shed or deck, enhancing the property's utility.
4. How does this property rank compared to its immediate neighbours?
The data shows a mixed picture. Its living area is below the street average, but its lot size and assessed value are more aligned with or better than nearby homes. This indicates you're buying into a street of similar, modest properties rather than being an outlier.
5. Where can I get verified historical sale prices for this home?
The site provides sold price ranges based on public data. For fully verified and exact transaction figures, you must request a manual lookup via email, as this information is not sourced from the MLS system.