Property Summary: 359 Melrose Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of modern convenience and practical urban living. Built in 2006, it is a notably newer construction compared to most homes on its street and in the wider Melrose area, where the average home is decades older. This suggests updated building systems, materials, and potentially lower immediate maintenance needs.
The appeal lies in this modern foundation paired with a manageable scale. With 782 sqft of living space, it is a compact home, well-suited for individuals, couples, or small families seeking efficiency without the upkeep of a larger, older property. The assessed value of $310k is strong for its immediate area, indicating it is perceived as a premium property within its local context.
It would best suit a first-time homebuyer or downsizer looking for a modern, low-maintenance home in an established neighbourhood. It’s also a practical choice for an investor seeking a relatively new rental property that would stand out in a market of older housing stock. A less obvious perspective is that the smaller lot size (2,700 sqft) translates to less yard work, aligning perfectly with a lock-and-leave or busy professional lifestyle, while still providing private outdoor space.
Section 2: Frequently Asked Questions
1. Is this a good value compared to other homes on the street?
Yes, from an assessment perspective. Its value ranks in the top 24% on Melrose Avenue W, meaning it is assessed higher than most of its neighbours. This is largely driven by its much newer construction date (2006 vs. an area average from the 1940s).
2. What are the main trade-offs with this property?
The trade-off for a newer, modern home is space. Both the living area and the lot size are below the local and city-wide averages. You are gaining modern construction but with less square footage indoors and outdoors than a typical Winnipeg home.
3. How has the property’s value changed over time?
Based on available sold price ranges, the property sold between $200k-$250k in 2017 and between $300k-$350k in 2022. This indicates significant appreciation over that five-year period.
4. What does the “Elite” ranking for Year Built mean?
It means this home is among the newest 5% of properties in the Melrose area. On its specific street, it ranks 16th newest out of 342 homes, highlighting how uncommon a post-2000 build is in this neighbourhood.
5. Who might this property not be suitable for?
It may not suit buyers who prioritize expansive living areas, large gardens, or the classic character of an older home. Families needing multiple bedrooms or significant storage space might find it too compact.