Property Overview: 352 Melrose Avenue W, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of space, value, and established character. Its primary strength is its generous 1,430 sqft living area, which ranks in the top 5-6% for its immediate street and neighborhood, offering significantly more interior space than most comparable local homes. This is balanced by a relatively modest assessed value of $250,000, which is around the average for the Melrose area but sits below the wider Winnipeg average. The property is situated on a smaller, manageable lot.
The appeal lies in this specific balance: acquiring above-average living space in an established area without the premium price tag often associated with larger homes citywide. It suits practical buyers who prioritize interior square footage over a large yard or a newer build. It would be a strong match for a first-time buyer needing room to grow, an investor looking for a character property with rental potential, or a downsizer seeking a single-level home (assuming bungalow layout) with ample room, all within a budget-conscious framework.
A thoughtful perspective is recognizing the 1913 build date (113 years old) not just as a negative, but as a marker of a home with enduring character and likely located in a mature, stable neighborhood with established trees and community roots. The recent sale history (sold in 2017 and 2020) also suggests it's been a maintained and livable home, not a long-vacant project.
Frequently Asked Questions
1. Is the older build date a major concern?
While the 1913 build means potential for older systems (like plumbing, wiring, or foundation), it also indicates solid construction and classic character. A thorough inspection is essential to understand the condition and any needed updates, which is typical for homes of this era.
2. Why is the assessed value lower than the city average?
The assessed value is primarily comparative to similar homes in the Melrose area, where values are generally lower than the Winnipeg average. This can represent a value opportunity, allowing you to get more house for your money within a specific established community.
3. How does the smaller lot size impact the property?
The 2,970 sqft lot is below average for the area and city. This means less outdoor maintenance and yard work, which can be a positive for some, but offers limited space for expansions, large gardens, or extensive outdoor recreation.
4. What does the recent sale history indicate?
The home sold between $200k-$250k in 2020 and $150k-$200k in 2017. This activity shows a market for the property and provides a recent price trajectory, though the exact sold prices are not publicly listed. This information is useful for gauging market interest and approximate value.
5. How accurate are the "top percentile" rankings provided?
These rankings are a useful tool for quick comparison, showing how this property measures against peers on specific metrics (like size or value) on its street, in its area, and city-wide. They highlight that this home's standout feature is its above-average living space within its local context.