Section 1: Property Overview
This home at 403 Melrose Avenue W is a compact, post-war bungalow built in 1949, sitting on a standard city lot. Its key characteristic is its modest scale: with approximately 596 square feet of living space, it is notably smaller than most homes in Winnipeg, ranking in the bottom 1-2% citywide for size. This is reflected in its assessed value of $200,000, which is significantly below the city average, placing it in the bottom 10% for value.
The primary appeal lies in its affordability and efficiency. It represents a genuine entry point into the Winnipeg housing market with lower property taxes and maintenance demands. The lot size of 3,299 sq ft is typical for the immediate area, offering outdoor space without being overwhelming. It suits first-time buyers or investors seeking a low-cost foothold, or downsizers looking to minimize space and expense. A thoughtful perspective is that its below-average metrics are precisely what create its accessibility; it’s a practical, no-frills property for those who prioritize financial pragmatism over square footage. Its age and size suggest it may be a candidate for a thoughtful renovation or could serve as a long-term, low-cost holding.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is closely tied to the home's very modest living area (596 sq ft), which is less than half the Winnipeg average. Smaller homes typically generate lower assessments, making this a more affordable option.
2. How does the sold price history help determine its value?
The home sold between $150,000 and $200,000 in 2020. This range provides a concrete benchmark for its market value several years ago, which is essential context when considering its current assessed value and any potential listing price.
3. Is the smaller living area a major drawback?
It depends on your needs. For a single person, couple, or downsizer, it can be efficient and cost-effective. However, for a growing family or those needing home office space, it would feel very compact. The data shows it's among the smallest homes in the city.
4. What does the "around average" ranking for Year Built mean for the neighborhood?
Built in 1949, the home is typical for Melrose and the surrounding area, where many homes were built in the late 1940s. This means infrastructure and community character are established, but it also suggests that major original components may be nearing the end of their lifespan.
5. Who provides the exact sold price, and why isn't it public?
The exact sold price is not publicly disclosed in Manitoba's historical records. The listing service offers to provide it manually via email upon request, which is a common practice to ensure accuracy while verifying genuine user interest.