Property Overview: 392 Monreith Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 392 Monreith Street is a quintessential post-war bungalow in the Robertson neighborhood, built in 1949. Its key characteristic is its efficiency: with 735 sqft of living space, it is notably compact, ranking below average in size for the street, neighborhood, and city. This places it firmly as an entry-level or downsizer property.
The appeal lies in its relative affordability and manageable scale. With an assessed value of $258k, it sits around the average for its immediate street but well below the Winnipeg city average, offering a more accessible price point. The lot size of 4,197 sqft is typical for the area and provides decent outdoor space for a home of this size. It last sold in early 2022 within the $250k-$300k range.
This property would best suit first-time buyers seeking a foothold in the market without a large mortgage, or investors looking for a practical rental property. It could also appeal to empty-nesters wanting to rightsize into a low-maintenance home. A less obvious perspective is that its compact size encourages a simpler, more intentional lifestyle and can lead to significantly lower utility and maintenance costs compared to larger, average-sized Winnipeg homes.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 735 sqft, the home is compact. It’s smaller than most homes on the street and in Winnipeg overall. This requires efficient use of space and may not suit those needing multiple bedrooms or dedicated work-from-home areas, but it is manageable for individuals, couples, or small families.
2. How does the assessed value compare?
The $258k assessment is very close to the street average ($252k) and neighborhood average ($269k). Crucially, it is substantially below the Winnipeg city average of ~$390k, indicating this is a more affordable area within the city.
3. What is the neighborhood like?
The data shows Robertson is a consistent, mature neighborhood. The nearly identical average year built (1949) for the street, area, and this home indicates a uniform, established character without drastic redevelopment.
4. Are there recent sales for comparison?
The home sold in February 2022 between $250k and $300k. Nearby reference properties with similar assessed values have recently sold in the mid-$200k range, providing a concrete benchmark for the area's market.
5. What are the less obvious costs or benefits?
A potential benefit is the property tax burden, which is based on the assessed value and would likely be lower than the city average. A consideration is that a home from 1949 may require updates to major systems like plumbing, electrical, or insulation, which should be factored into budgeting.