Property Overview: 129 Pandora Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct profile defined by its modest scale and significant lot size. At 704 sqft, the living space is notably compact, ranking in the bottom 10% for size both on its street and within the wider city. Built in 1946, it is an older home that may require updates. The primary financial characteristic is its low assessed value of $21,700, which is significantly below city averages.
The appeal lies in its substantial 5,710 sqft lot, which is well above average for the Melrose area, offering valuable outdoor space and potential. This creates a unique value proposition: a very low entry price for a property with a generous land footprint in Winnipeg. It last sold in the $200k-$250k range in 2022.
This property would best suit a specific type of buyer: a hands-on individual or investor looking for a land-value opportunity. It’s a potential fit for someone planning a major renovation, an addition to capitalize on the lot size, or even a future rebuild. It could also appeal to a minimalist buyer seeking extreme affordability who values private outdoor space over interior square footage. It is not suited for those seeking a move-in-ready or spacious home without renovation plans.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price?
Assessed value for municipal tax purposes often lags behind market value, especially in a changing market. The 2022 sale price reflects what a buyer was willing to pay at that time, while the assessment is an administrative valuation that may not capture recent market shifts or specific property conditions.
2. What does the large lot size mean for me?
The above-average lot is the property's standout feature. It provides ample yard space, greater privacy from neighbors, and increased potential for landscaping, gardening, or adding structures like a garage or shed. In the long term, it may also offer redevelopment potential.
3. As an older, smaller home, what should I budget for?
Prospective buyers should prioritize a thorough inspection. Given the age (80 years), key systems like plumbing, electrical, roofing, and insulation may need evaluation or upgrading. The compact size also means any renovation will require efficient space planning.
4. How does this property compare to others nearby?
The data shows it’s smaller and older than most homes on its street. However, its lot is larger than most in the broader Melrose area. This indicates the neighborhood typically has homes with more interior space, so this property offers a different kind of value based on its land.
5. How can I find out the exact past sale price?
The provided sale price is a public record range. As noted on the detail page, you can request the exact figure by emailing the listing service. They provide this data manually and state they do not use contact information for unsolicited marketing.