Property Overview
501 Weedon Street is a well-situated home in Winnipeg's Munroe East neighbourhood. Built in 1977, it offers 1,218 square feet of living space on a 5,098 square foot lot. The home’s recent sale history shows steady market activity, with transactions in 2020 and 2023.
Key Characteristics & Appeal
The primary appeal of this property lies in its strong positioning within the immediate Munroe East area. While its size is average for its specific street, it ranks within the top 8% for living area compared to all homes in Munroe East, indicating it offers more interior space than most in the neighbourhood. The lot size is also comfortably above the area average. This creates a value proposition: you get a home that feels spacious for the area without an extreme price tag. Its assessed value is notably lower than others on Weedon Street, which could signal an opportunity for equity growth or simply reflect the specific characteristics of the home.
This property would suit a practical buyer looking for a solid footprint in a established neighbourhood. It’s ideal for someone who values space over a brand-new build, and for the investor or homeowner who sees potential in a property that stands out favourably within its local context but may benefit from updates. The consistent sales history suggests it’s a marketable home in a stable area.
Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
The assessed value is significantly lower than the street average, ranking in the bottom 5% on Weedon Street. However, within the broader Munroe East area, it ranks in the top 11%. This suggests the home may be undervalued on its street or that neighbouring properties have been more extensively renovated or expanded.
2. Is the living space considered large for the area?
Yes. With 1,218 sq ft, this home is above the Munroe East average (1,009 sq ft), placing it in the top 8% of the neighbourhood for living area. This is one of its strongest attributes.
3. What does the sale history indicate?
The home sold between $350k-$400k in 2023 and $250k-$300k in 2020. This shows active market interest and price appreciation over that period. The 2023 sale price positioned it well above the area average for that transaction.
4. How does the lot size compare?
At 5,098 sq ft, the lot is larger than the average for Munroe East (4,958 sq ft). It provides a decent outdoor space that is on par with or slightly better than many area properties.
5. The home was built in 1977. What should I consider?
A home of this age is likely to have had several major components, like the roof, windows, or HVAC system, replaced or nearing the end of their service life. A thorough inspection is crucial to understand the condition and timeline for any necessary updates or maintenance.