Property Overview
507 Sydney Avenue is a well-established home in Winnipeg's Munroe West neighbourhood. Built in 1955, it sits on a generous 5,000 sqft lot and offers 1,064 sqft of living space with a current assessed value of $320,000.
Key Characteristics & Appeal
This home’s primary appeal lies in its strong positioning within its immediate area. The lot size is notably large for Sydney Avenue, ranking in the top 4% of the street, offering valuable outdoor space and potential. Similarly, its assessed value is elite for the street (top 4%), suggesting it is perceived as a premium property in this specific locale. The living area is comfortably above average for both the street and Munroe West, providing good interior space without being oversized.
A thoughtful perspective is that this property represents a "big fish in a small pond." While its metrics are average or slightly above when viewed city-wide, they are standout figures on its own street. This makes it a stable, desirable anchor property in its micro-neighbourhood. It would suit a buyer looking for a established community character, who values a larger lot for gardening, children, or future expansion more than a brand-new home. It’s also a sensible fit for those who prioritize equity and stature within a specific, well-defined area over comparing themselves to the broader city market.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold between $250k-$300k in mid-2020. The current $320k assessment is higher, indicating a rise in perceived market value over the past few years. For exact historical sale prices, you can request a manual lookup from the site.
2. Is the house older or newer than others nearby?
Built in 1955, it is significantly newer than many homes on Sydney Avenue and in Munroe West, where average build years are 1939 and 1945, respectively. This may mean updates or different construction materials than neighbouring, older homes.
3. What does the "elite" ranking for lot size mean practically?
With a 5,000 sqft lot ranking in the top 4% on its street, this property offers roughly 25% more land than the street average. This allows for a more private yard, greater distance from neighbours, and more flexibility for decks, sheds, or landscaping.
4. How does the living space feel for a family?
At 1,064 sqft, the living area is above average for the local area but slightly below the Winnipeg city average. It is well-suited for a small family, couple, or empty-nesters who appreciate efficient use of space without the upkeep of a much larger home.
5. Why is there a difference between city-wide and local rankings?
The home shines brightest in its immediate context. Its value and lot size are elite for Sydney Avenue but average across Winnipeg. This highlights the importance of neighbourhood-specific analysis; a property can be a standout value on its block even if it isn't exceptional across the entire city.