Property Overview: 628 Regent Avenue W, Winnipeg
Key Characteristics & Appeal
This 720 sqft bungalow, built in 1957, sits on a standard 4,100 sqft lot in the Melrose neighbourhood. Its core appeal lies in its efficient scale and relative value within its immediate area. While the living space is notably compact compared to city-wide averages, the property’s assessed value of $280,000 is firmly in line with the local market on its street and in Melrose. This presents a specific value proposition: it’s a competitively priced entry point into a mature neighbourhood without a premium for excess square footage.
The home would suit practical, budget-conscious buyers such as first-time homeowners, downsizers, or investors seeking a manageable property. Its smaller size means lower utility costs and less maintenance, which is a significant but less obvious advantage. The lot size is typical for the area, offering adequate outdoor space without the burden of a large yard. A thoughtful perspective for a buyer is to see this not as a "small" house city-wide, but as an "average-priced, efficient" home locally, where the investment is in the location and land rather than in a large structure.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
In this case, the assessed value is a strong benchmark, as it aligns directly with the average for similar homes on Regent Avenue W and in the Melrose area, suggesting the market here is consistent with municipal assessment.
2. How does the smaller living area impact value?
The below-average square footage is the primary reason this home’s price sits below the Winnipeg city average. It represents a trade-off: you gain affordability and lower operating costs for a more compact living space.
3. What are the implications of the home’s age (built in 1957)?
The age is typical for the neighbourhood. Buyers should budget for potential updates to older components like wiring, plumbing, or windows, and consider a thorough inspection to assess the condition of these systems.
4. How does the last sold price (2016, between $200k-$250k) relate to today’s value?
The historical price shows significant appreciation over the past decade, reflecting broader market trends. The current assessed value suggests this growth has stabilized in line with the local area.
5. Is the lot size a development opportunity?
At 4,100 sqft, the lot is standard for the area but smaller than the city average. While expansion or addition may be possible subject to zoning, the lot size is more typical for a single-family home rather than a major redevelopment project.