Property Overview: 508 Melbourne Avenue, Winnipeg
Key Characteristics & Appeal
This home at 508 Melbourne Avenue in Munroe West presents a solid, grounded opportunity in Winnipeg’s housing market. Built in 1955, it is a newer construction compared to many homes on its street and in the immediate area, which may suggest fewer concerns with some aging infrastructure common to the neighbourhood’s older stock. The 882 sqft living area is typical for the street but is notably more compact than the Winnipeg city average, defining its character as a efficient, manageable space.
The property’s primary appeal lies in its generous 5,000 sqft lot, which is larger than most on Melbourne Avenue, offering valuable outdoor space and potential. With an assessed value of $287,000, it sits above the street average, indicating it is perceived as a higher-quality asset within its immediate context, yet remains priced well below the citywide average—a key point for value-conscious buyers.
This home would best suit first-time buyers or downsizers seeking a established neighbourhood character without the upkeep of a much larger property. It’s for someone who prioritizes a larger yard over interior square footage and understands the value proposition of a home that stands out positively on its own block, even if it’s more modest by broader city standards.
Frequently Asked Questions
1. How does the home’s size compare to nearby properties?
At 882 sqft, the living area is exactly the average for Melbourne Avenue. It is slightly smaller than the Munroe neighbourhood average and significantly smaller than the typical Winnipeg home, indicating a compact, efficient layout.
2. Why is the assessed value higher than the street average?
The assessed value of $287,000 ranks in the top 22% on Melbourne Avenue. This is likely due to a combination of its larger-than-average lot size, its relatively newer construction date for the area, and the property’s specific condition and improvements.
3. What does the 1955 build year mean for a buyer?
While 71 years old, this home is actually newer than most on its street (ranking in the top 18%). This can be an advantage, potentially meaning updates to original systems have already been made or that major components may have a slightly longer service life than in older neighbouring homes.
4. How reliable is the last sold price data from 2017?
The provided sold price range (CA$200k–250k) is based on public, non-MLS data. For fully verified and exact historical transaction figures, you must request a manual lookup from the site via email, as industry rules prevent the display of MLS sold records here.
5. Is the large lot a common feature in this area?
The 5,000 sqft lot is above the street average, ranking in the top 22% on Melbourne Avenue. In the broader Munroe West area, it is about average. This lot size is a distinguishing feature of this particular property compared to its closest neighbours.