Property Overview: 302 Melrose Avenue E, Winnipeg
Key Characteristics & Appeal
This is a compact, century-old home (built 1920) on a standard city lot in the Melrose area. Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, with an assessed value significantly below the city average. The living space (973 sq ft) is typical for the immediate street and neighborhood, offering a manageable layout for a smaller household.
The property suits first-time buyers or practical investors seeking a lower-cost option with renovation potential. Its below-average assessed value suggests a potentially lower property tax burden, which is a key, less obvious advantage for budget-conscious owners. While the lot is smaller than many in the city, it is reasonably proportional to the home's size, offering manageable outdoor maintenance. A thoughtful perspective for the right buyer is viewing this as a "value-hold" property: you're acquiring a home in a mature neighborhood at a basis well under city averages, which can be a strategic starting point.
Frequently Asked Questions
1. How does the assessed value affect my property taxes?
A lower assessed value typically results in a lower municipal property tax bill. This home's assessment is in the bottom 10-15% for the city, which is a significant factor in its ongoing affordability.
2. What should I consider with a home built in 1920?
While offering charm, a home of this age will likely require updates to mechanical systems like wiring and plumbing. A thorough inspection is essential to understand the condition of the structure, foundation, and any past renovations.
3. Is the living area sufficient for a family?
At 973 square feet, the layout is compact. It is best suited for a single person, a couple, or a small family. The space is on par with many other homes on the street but below the city-wide average for living area.
4. The sold price history shows a range from 2017. What does that mean?
The listed range (CA$150k–200k) is an estimate based on public data. To obtain the exact historical sale price for informed comparison, you must request it directly from the listing service via the provided email option.
5. How does the lot size impact future plans?
The lot of 2,971 sq ft is smaller than the city average but standard for the area. It provides yard space but may limit the potential for large additions or detached structures, depending on local zoning bylaws.