Property Overview & Key Characteristics
This home at 427 Pandora Avenue E in Winnipeg's Melrose neighbourhood presents a specific and practical value proposition. Built in 1965, its 972 sqft living space is very typical for the immediate area and Melrose overall, offering a manageable footprint. A key characteristic is its notably low municipal assessed value ($23,400), which is well below averages for the street, neighbourhood, and city. This suggests a potentially lower property tax burden, a significant ongoing cost savings for an owner. The lot size of 2,970 sqft is compact, especially compared to others on the street, implying lower maintenance.
Its appeal lies in its position as an affordable, entry-level single-family home in a mature neighbourhood. It suits first-time buyers or practical downsizers seeking to minimize both upfront costs and long-term carrying charges like taxes. The home last sold in the $200k-$250k range in 2024, reinforcing its accessibility. A thoughtful perspective is that while the lot is smaller, it requires less upkeep, which can be a hidden benefit for those seeking a simpler lifestyle without sacrificing the autonomy of a detached property.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Municipal assessments are based on a mass appraisal system considering factors like home size, age, location, and recent area sales. This home's compact size and lot, combined with its age and local market conditions, result in an assessment significantly below the Winnipeg average, which includes many newer and larger homes.
2. What does the "below average" lot size mean for me?
At just under 3,000 sqft, the yard is compact. This limits expansive gardening or large outdoor recreation space but translates to less time and money spent on lawn care, landscaping, and snow clearing—a practical advantage for those prioritizing low maintenance.
3. How does the recent sale price compare to the assessment?
The home sold for between $200,000 and $250,000 in 2024, which is substantially higher than its $23,400 assessed value. This is normal, as market value (what a buyer pays) and assessed value (for tax purposes) are calculated differently and often diverge significantly.
4. Is the living space suitable for a small family?
At 972 sqft, the living area is modest. It is functionally sized for individuals, couples, or a very small family comfortable with efficient use of space. It aligns with the typical size of many older homes in the Melrose area.
5. How can I find out the exact historical sale price?
The precise sale prices are not publicly displayed in detail due to data sourcing. You can request the exact sold price history by emailing the listing service through the provided form. They provide this information manually without using your email for unsolicited marketing.