Property Overview: 535 Melrose Avenue W, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home is defined by its efficient use of space and its position within a well-established neighbourhood. Built in 1920, it offers 1,150 sqft of living area, which is notably above average for both its immediate street and the broader Melrose area. This suggests a comfortable, practical layout compared to many nearby homes. The lot size of 3,499 sqft is consistent with local norms, providing standard outdoor space.
The primary appeal lies in its value proposition within a mature community. The home’s assessed value is modest relative to the Winnipeg city-wide average, potentially indicating a lower property tax burden and an accessible entry point into the market. A less obvious perspective is that its older vintage (106 years) may appeal to those interested in a home with character and established, mature landscaping, rather than a new build in a developing area. However, it also implies a greater need for diligent inspection regarding updates and maintenance.
This property would best suit first-time buyers or practical downsizers seeking a manageable, no-frills home in a settled area. It’s for someone who prioritizes living space efficiency and neighbourhood stability over a large lot or modern construction, and who is prepared for the realities of maintaining an older house.
Frequently Asked Questions
1. How does the living area compare to nearby homes?
At 1,150 sqft, the living space is larger than most comparable homes on Melrose Avenue W and in the wider Melrose area, ranking in the top 19% locally.
2. What should I consider about the home’s age?
Built in 1920, the home is older than most in the city. This warrants a thorough inspection to understand the condition of major systems like plumbing, electrical, and the foundation, but also contributes to the established charm of the area.
3. Is the assessed value a reliable indicator of the market price?
Not directly. The assessed value of $24,600 is for municipal tax purposes. The last known sale was between $200k-$250k in 2019. Market price is determined by current conditions, and the exact historical sold prices are available by request.
4. How does the lot size compare?
The 3,499 sqft lot is typical for the street and neighbourhood but is below the city-wide average. It provides standard outdoor space for the area without extensive yard maintenance.
5. Where can I see more context about this specific location?
A neighbourhood analysis map is available, allowing you to view this property alongside nearby homes to compare details like year built, living area, and lot size.