Property Overview: 356 Melrose Avenue W
Section 1: Key Characteristics & Appeal
This home presents a distinct profile defined by its spacious interior within a century-old structure. Its primary appeal lies in its generous 1,552 sqft living area, which ranks in the elite top 4% for its immediate street and neighborhood, offering significantly more space than typical local homes. This makes it a compelling option for buyers seeking room to grow without moving to a newer, often more distant suburb.
The property suits practical buyers who value interior space over lot size or modern construction. It’s ideal for someone comfortable with the character and potential maintenance considerations of a 1912-built home, and who sees the below-average assessed value as an opportunity for equity growth through updates. The lot, while smaller than area averages, provides manageable outdoor space. This isn’t a modern, move-in-ready showcase; it’s a substantial canvas in a well-established area, perfect for a homeowner with a vision or a need for ample square footage on a pragmatic budget.
Section 2: Frequently Asked Questions
1. How does the home’s age impact its value and condition?
Built in 1912, the home is notably older than most in Winnipeg. This can mean charming character but also necessitates a thorough inspection for foundational integrity, wiring, plumbing, and insulation to understand any needed investments.
2. The assessed value seems low compared to the city average. Why?
The city-wide assessed value ranking is below average. This typically reflects the home’s age, the smaller lot size, and potentially the interior condition or outdated systems compared to the broader market. It can indicate a more affordable entry point and a different value proposition focused on interior space.
3. Is the large living area a result of additions or an original layout?
Given the home’s age and the fact its living area is exceptionally large for the area, it would be prudent to verify if the square footage includes permitted additions or finished spaces. This can affect insurance, property taxes, and resale value.
4. What are the implications of having a smaller lot?
At 2,970 sqft, the lot is below the neighborhood average. This means lower maintenance for yards but may limit expansion possibilities like large additions, decks, or pools. It also suggests a closer proximity to neighboring homes.
5. Where can I see accurate historical sale prices?
The listed sale price ranges are based on public data. For exact sold prices and a complete history, you must request the information directly via the email service provided on the listing page. This ensures accuracy for your valuation research.