Property Overview: 117 Pandora Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct profile defined by its above-average interior space within a historic, modestly valued package. Built in 1918, it offers 1,240 sqft of living area, which ranks within the top 17% of homes on its street and the top 14% within the Melrose area, indicating more spacious interiors than many nearby properties. However, this comes with a smaller, urban-sized lot of 3,241 sqft.
Its primary appeal lies in value and space efficiency. With a notably low assessed value ($26,800), it sits well below the Winnipeg city average, suggesting a potentially accessible entry point into the market. This creates an interesting dynamic: you get a home that feels larger than its neighbors on the inside, without the corresponding premium in its official valuation. It last sold in the $250k-$300k range in 2022.
This property would suit practical, value-conscious buyers such as first-time homeowners or investors looking for a character home with room to grow, who prioritize interior square footage over expansive outdoor land. It’s less suited for those seeking a modern build, a large yard, or for whom a very recent renovation history is a top priority.
Section 2: Frequently Asked Questions
1. What does the low assessed value mean for property taxes?
A lower assessed value typically results in lower municipal property taxes compared to homes with similar living space but higher assessments. This is a key financial advantage of this property.
2. As a 108-year-old home, what should I be prepared for?
While offering classic character, a home of this age will likely require diligent maintenance and potentially updates to major systems like wiring, plumbing, or insulation. A thorough pre-purchase inspection is essential.
3. The living area is above average, but the lot size is below average. What's the trade-off?
This indicates an efficient use of land, with the home occupying more of its parcel. It provides generous indoor space but limits expansive outdoor gardening, recreation, or addition potential. Privacy from neighbors may also be different than on a larger lot.
4. The sold price from 2022 is much higher than the assessed value. Why?
Assessed value is for municipal taxation and often lags behind the actual market value determined by buyer demand. The sale price reflects what a buyer was willing to pay in the open market at that time.
5. How meaningful are the "top percentile" rankings provided?
They are useful for context. For example, ranking in the top 14% for living area in Melrose confirms this home is genuinely spacious for the neighborhood. Conversely, rankings in the bottom 20-30% for year built and lot size clearly highlight its age and compact yard as defining characteristics.