Property Overview: 726 Melrose Avenue W
Key Characteristics & Appeal
This well-situated home on Melrose Avenue W presents a solid opportunity in Winnipeg’s Melrose neighbourhood. Built in 1959, its key strength lies in its generous 5,445 sqft lot, which places it in the top 13% for land size within the local area. This offers valuable outdoor space and potential not found in many neighbouring properties. The 1,055 sqft living area is comfortably above the local average, providing ample room.
The home’s appeal is grounded in its strong positional value within its immediate context. Its assessed value ranks in the top 14% for the Melrose area, suggesting it is viewed as a substantial property relative to its peers. This combination of a larger, newer-than-average home for the street on a significantly larger lot creates a compelling proposition for a buyer looking for a established neighbourhood setting with room to breathe or garden.
This property would suit a practical buyer who values space and location over a brand-new build. It’s ideal for a first-time homeowner seeking a manageable-sized house with a premium lot, or for someone looking for a property with clear underlying value and the potential for future updates or additions, given the generous land parcel.
Frequently Asked Questions
1. How does the lot size compare to typical city lots?
At 5,445 sqft, the lot is substantially larger than the average for both the street and the broader Melrose area, but is closer to the city-wide average. This means you get a premium-sized yard for the neighbourhood.
2. The home was built in 1959. What should I consider?
While newer than many homes on the street (ranking in the top 25%), a 65-year-old home will likely have had major systems updated over time. A thorough inspection is essential to understand the condition of the roof, wiring, plumbing, and foundation.
3. What does the "above average" assessed value mean for taxes and listing price?
A higher assessed value than neighbours generally indicates the municipality views the property as more valuable, which can influence property taxes. It does not directly set the market price, but it often correlates with a stronger potential listing price, as seen in its 2024 sale in the $250k-$300k range.
4. Are the sold prices shown exact figures?
No. The provided sold price ranges are estimates based on public data. To obtain the exact historical sale price for this property, you must request it via the email service mentioned, which provides manually verified data.
5. The living area is above average for the area but average city-wide. What's the takeaway?
This highlights the character of the Melrose neighbourhood, which generally features more modestly sized homes. You are getting a spacious home for this specific, established community, which may offer a different value proposition than a similarly sized home in a newer suburb.