Property Overview: 540 Regent Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old home (built 1920) on a standard-sized lot in the Melrose neighbourhood. Its key characteristic is its modest scale: at 708 sqft, the living area is notably smaller than most homes on its street, in the area, and across Winnipeg. This is reflected in its very low municipal assessed value of $16,300, which is among the lowest in its comparison groups.
The appeal lies in its position as an entry-point property. It represents one of the most accessible homeownership opportunities in the city, ideal for a first-time buyer with a limited budget, an investor looking for a straightforward rental property, or someone seeking a minimal footprint. The lot size (3,305 sqft) is fairly typical for the local area, offering outdoor space that the home itself does not provide indoors. A less obvious perspective is that a home of this age and value may present a unique "blank slate" opportunity. For a buyer with renovation skills or a vision to rebuild, the combination of a historic lot and a very low property tax base could be a strategic long-term investment.
It last sold between $100k-$150k in 2023, suggesting the market price significantly exceeds its assessed value, a common scenario for well-located, older homes.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the likely selling price?
Municipal assessments in Manitoba are primarily for tax purposes and often don't reflect current market value, especially for older homes. The sale price is driven by location, land value, and market demand.
2. What does the "Top 89%" ranking for living area mean?
It means this home's living area is smaller than about 89% of comparable properties on its street. In simpler terms, it's in the bottom 11% for size locally, confirming it's a notably compact dwelling.
3. Is a 708 sqft house practical for living?
It can be for a single person, a couple, or someone comfortable with a minimalist lifestyle. It likely requires efficient use of space and may not suit those needing a home office, multiple bedrooms, or significant storage.
4. What are the implications of the home being built in 1920?
While offering classic charm, it may require more maintenance or updates to systems like wiring, plumbing, or insulation. A thorough inspection is essential to understand the condition and potential renovation costs.
5. The sold price history shows a range. How can I find the exact price?
The exact sale price is not publicly available in Manitoba. The listing service offers to provide it manually via email upon request, as noted at the bottom of the details page.