Property Overview: 408 Melrose Avenue W
Key Characteristics & Appeal
This home is a classic, no-frills property that offers solid value within its immediate neighborhood. Built in 1920, it presents an opportunity to own a character home with a manageable 941 sqft footprint on a standard city lot. Its primary appeal lies in its positioning: while its size and assessed value are below the Winnipeg citywide average, they are much more aligned with—and in some cases above—the averages for Melrose Avenue and the broader Melrose area. This suggests you are buying into a stable, established community without a premium for excessive space or new construction.
The home would suit practical, value-conscious buyers. This includes first-time homeowners looking for an affordable entry point into the market, investors seeking a rental property with a reasonable tax assessment, or downsizers who appreciate a smaller, low-maintenance lot. A thoughtful perspective is that a home of this age and modest assessment may allow for renovation and customization without immediately over-improving relative to the neighborhood, offering a canvas for someone who wants to add their own value over time.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
The home’s assessed value is below the average on its specific street but is very close to the average for the wider Melrose area. This indicates it is priced consistently within its local market context.
2. Is the living space smaller than typical Winnipeg homes?
Yes. At 941 sqft, the living area is smaller than the Winnipeg city average. However, it is nearly identical to the average home size within the Melrose neighborhood itself, making it a standard offering for this community.
3. What should I consider about the age of the home?
Built in 1920, the home is older than most in the city and the area. Prospective buyers should budget for potential updates to older mechanical systems, windows, or insulation, while also appreciating the character and construction quality of the era.
4. How can I find out what it last sold for?
The sold price history provided is a range from public data. You can request the exact historical sold price by emailing the listing service; they provide this detail manually upon request.
5. How does the lot size impact potential?
The lot is 3,629 sqft, which is standard for the street and area but smaller than the citywide average. It provides a decent outdoor space typical of the neighborhood but may have limitations for large additions or pools compared to lots in newer suburbs.