Property Overview
This home at 417 Pandora Avenue E in Winnipeg's Melrose neighbourhood presents a compelling mix of space, modern age, and value. Built in 1988, it is notably newer than most homes on its street and in the wider area. Its primary appeal lies in its generous 1,504 sqft of living area, which ranks within the top 4% of homes in Melrose, offering significantly more interior space than local averages. The lot size is practical at just under a quarter-acre, and the home's assessed value is modest relative to its size and condition.
The property would suit buyers looking for a well-sized home without the maintenance concerns of a century-old property. It’s particularly appealing for those who prioritize interior space over expansive yard work. The data suggests it offers a "more house for the dollar" proposition within its community, fitting for growing families, downsizers seeking single-level living (assuming bungalow layout), or value-conscious buyers wanting a move-in-ready home in a mature neighbourhood.
Frequently Asked Questions
1. How does the home's age affect its condition and potential costs?
Being built in 1988, major systems like the roof, windows, or furnace may be nearing or have recently reached their typical lifespan. This could represent either an update already completed by the previous owner or a near-future investment. It's newer than many area homes, potentially meaning fewer historical renovation issues.
2. The assessed value seems low compared to the last sold price. What does this mean?
The assessed value ($37,800) is for municipal tax purposes and is typically much lower than market value in Winnipeg. The 2022 sale in the $400k-$450k range is the relevant market indicator. The low assessment can be seen as a positive, contributing to relatively lower annual property taxes.
3. Is the lot size a disadvantage?
At 4,456 sqft, the lot is slightly larger than the Melrose average but smaller than the street average. This is a thoughtful trade-off: it requires less upkeep than a larger lot but still provides adequate private outdoor space. It aligns with a low-maintenance lifestyle.
4. What does its high ranking for living area actually signify?
Ranking in the top 4% in Melrose for living area means this home offers space that is rare for the neighbourhood. For the area, it is a relatively large home, which could contribute to better resale value and livability compared to its immediate peers.
5. The sold price history shows only one recent sale. How stable is the property's value?
The 2022 sale provides a solid, recent benchmark. The fact that it sold in a known price range during a shifting market period offers a grounded starting point for current valuation. Its strong rankings for size and age within the community suggest its fundamental desirability factors remain stable.