240 Melbourne Avenue

Property Overview: 240 Melbourne Avenue, Winnipeg

Key Characteristics & Appeal

This home stands out in its immediate neighborhood for its generous proportions. With over 2,000 square feet of living space, it ranks in the top 1% for size on its street and in the Munroe West area, offering significantly more room than local averages. The 6,000 sqft lot is also a notable feature, placing in the top 2% on Melbourne Avenue, providing ample outdoor space rarely found in the area.

Its appeal lies in this combination of a large, classic home on a substantial lot within a well-established neighborhood. The assessed value of $348k is elite for the street and area, suggesting a property that is well-maintained or has desirable features, yet remains below the city-wide average for home values. This creates a value proposition for buyers seeking space and character without a premium city-wide price tag.

Built in 1935, the home is of a mature vintage. This suits buyers looking for a property with traditional charm and the potential for customization, rather than a modern, move-in-ready build. It would ideally suit a growing family needing more interior and yard space than is typical in Munroe West, or a value-conscious buyer who prioritizes lot size and sees the older build date as an opportunity to shape the home to their own taste over time.

Frequently Asked Questions

1. How does the assessed value compare to recent sale prices?
The home last sold between $250k-$300k in July 2021. Its current assessed value of $348k is higher, indicating a likely increase in market value or improvements since that last sale. For exact historical sold prices, a manual lookup can be requested.

2. Is the larger lot size a benefit for future expansion?
Potentially, yes. The lot is significantly larger than most on the street and in the area. This could provide flexibility for additions, a large garage, or extensive landscaping, subject to local zoning and bylaws.

3. What should I consider with a home built in 1935?
While offering classic character, it’s important to factor in the maintenance and updating typical of a 90-year-old home. Prospective buyers should pay close attention to the condition of major systems (roof, plumbing, electrical, foundation) and consider potential renovation costs for kitchens or bathrooms to modernize the interior.

4. The home ranks "below average" for year built city-wide. Is this a concern?
This ranking simply reflects that the home is older than most across all of Winnipeg. In the context of its own mature neighborhood, its age is quite average. This is typical for established, character-filled areas and is not an outlier for Munroe West.

5. Who are the closest neighbors, and what are their homes like?
The immediate neighbors on Melbourne Avenue have smaller homes, averaging just 882 sqft of living space and 4,361 sqft lots. This means 240 Melbourne Avenue is a notably larger property on the block, offering more privacy and scale than the houses directly beside it.