Property Overview: 417 Melrose Avenue W
Key Characteristics & Appeal
This home stands out for its modern build year and strong assessed value within its immediate area. Built in 2001, it is significantly newer than most homes on its street and in the wider Melrose neighbourhood, where the average build year is around the late 1940s. This suggests a property likely requiring less immediate upkeep than many older counterparts. With 1,152 sqft of living space, it offers above-average roominess for the local area. Its most striking characteristic is its assessed value of $39.50k, which ranks in the top 2-3% locally, indicating it is considered a high-value property relative to its neighbours. The lot size is typical for the street but smaller than the Winnipeg city average.
The appeal lies in acquiring a relatively modern home in an established neighbourhood, offering a balance of contemporary convenience and mature surroundings. It would particularly suit a buyer looking for a move-in-ready home without the concerns common to mid-century builds, and who values a property that holds a premium position in terms of assessed value on its block. The recent sale history suggests stable and strong market interest.
Frequently Asked Questions
1. Why is the assessed value so high compared to neighbouring homes?
The assessed value, which ranks in the top tier locally, likely reflects the property's much newer construction year (2001) compared to the neighbourhood's average (circa 1948), along with its above-average living area for the area.
2. What does the sold price history indicate?
The home sold in both 2022 and 2023 within the $400k-$450k range, placing those sale prices in the top 1% for the local area. This indicates consistent, high-market-value transactions and strong demand for this specific property.
3. Are there any potential drawbacks to the lot size?
At just under 4,000 sqft, the lot is standard for Melrose Avenue but falls below the city-wide average. This may limit extensive outdoor additions like a large detached garage or pool, but is typical for the streetscape.
4. How does the living space compare to a typical Winnipeg home?
At 1,152 sqft, it is above average for its immediate neighbourhood but slightly below the Winnipeg city average of about 1,342 sqft. It offers more space than many local homes but is a moderately sized home by broader city standards.
5. Where can I see more context about this property's location?
You can open the neighbourhood analysis page to view this home on a map alongside nearby properties, comparing details like year built, living area, and lot size directly with its neighbours.