Property Overview
This home at 1012 Munroe Avenue presents a distinct profile defined by its contrasts. Built in 1968, it is a notably newer construction compared to many other homes on its street and in the Munroe East area. While its 840 sqft living space is modest and below the local average, it sits on a larger-than-standard lot of nearly 5,000 sqft. The property’s assessed value ranks highly within its immediate neighbourhood, suggesting it is viewed as a solid asset in its local context.
Key Characteristics & Appeal
The primary appeal lies in the balance between a manageable, efficient home and a generous, versatile lot. The house itself is a low-maintenance footprint suitable for a first-time buyer, downsizer, or investor. The true potential, however, is in the land. The lot size is above average for the street, offering valuable outdoor space for gardening, expansion, or future redevelopment, which is a relative rarity in established neighbourhoods. Its newer build date (for the area) often implies updated core systems and potentially fewer immediate major repairs than much older homes.
This property would best suit a pragmatic buyer who values land over square footage. It’s ideal for someone looking to enter the market with a focus on long-term property value, an owner who enjoys outdoor space, or an investor considering the future potential of the lot. It’s less suited for those requiring significant immediate living space without a renovation plan.
Frequently Asked Questions
1. Is the house too small?
At 840 sqft, the living area is compact and below the average for the area. It functions well for individuals, couples, or small families comfortable with efficient living. The trade-off is the larger lot, which provides expansion potential.
2. Why is the assessed value high for the street?
The assessment ranks in the top 12% on Munroe Avenue. This likely reflects the combination of its newer construction age (1968) compared to neighbouring homes and its substantial lot size, both of which are positive factors in valuation models.
3. What can I do with such a large lot?
The near 5,000 sqft lot offers more than just a large yard. It provides privacy, room for additions like a garage or sunroom, space for a substantial garden, or is simply a land bank that contributes significantly to the property’s future value.
4. How does it compare to the rest of the city?
City-wide, this home is around average for its assessed value and build year. Its lot and living area are slightly below the city average. This highlights that its strengths are hyper-local, making it a standout on its own street but a more typical offering in the broader Winnipeg market.
5. What does the sale history indicate?
The home sold between $250k-$300k in 2017. This past sale price, combined with its current assessed value ranking, suggests a history of stable or appreciating value within its specific neighbourhood context. For the exact historical sale price, you can request the information via email on the property page.