Property Overview
This home at 224 Regent Avenue W in Winnipeg's Melrose neighbourhood presents a practical and affordable entry point into the city's housing market. Built in 1954, its key characteristic is its modest scale, with 792 square feet of living space on a 3,594 sqft lot. This places it below the city-wide average for size, but quite typical for its immediate area. Its assessed value of $270,000 is similarly average for the street and neighbourhood, but sits below the broader Winnipeg average, indicating its relative affordability in the city context.
The appeal lies in its position as a manageable, lower-maintenance property in an established community. It suits first-time buyers seeking a foothold without a massive mortgage, downsizers looking to reduce space and upkeep, or pragmatic investors interested in a character home with a stable valuation history. A thoughtful perspective is that its "below average" size city-wide is actually its strategic advantage, offering lower utility costs and property taxes, which aligns with a growing preference for efficient living. Its last known sale was between $200,000-$250,000 in 2020.
Frequently Asked Questions
1. Is this a small house?
Yes, at 792 sqft, the living area is compact and below the Winnipeg average. However, it is very typical for the Melrose neighbourhood, where comparable homes average about 973 sqft.
2. How does the assessed value compare to nearby homes?
The $270,000 assessment is around the average for both Regent Avenue W and the wider Melrose area. It is considered below average compared to the entire city, which can be an advantage for property tax calculations.
3. What is the lot size, and are there expansion possibilities?
The lot is 3,594 sqft, which is slightly below the street average but standard for the area. Any potential expansion, like an addition or garage, would require checking current zoning bylaws and setback requirements.
4. When was it last sold, and for how much?
Public records indicate a sale between $200,000 and $250,000 in 2020. The exact sale price can be requested directly from the listing service.
5. What does the "ranking" data mean for a potential buyer?
The rankings show how this property compares to others in three categories: its immediate street, the Melrose neighbourhood, and all of Winnipeg. It helps highlight that while features like size are smaller city-wide, they are normal and competitive for this specific, established community.