Property Overview: 355 Melbourne Avenue, Winnipeg
Key Characteristics & Appeal
This home at 355 Melbourne Avenue is defined by its compact efficiency and historic character. Built in 1914, it is notably older than most homes in its immediate area and across Winnipeg. With 605 square feet of living space, it is significantly smaller than the average local home, placing it in the top 3% smallest properties city-wide. The assessed value of $193k is also well below area and city averages, reflecting its size and age.
The primary appeal lies in its affordability and low-maintenance potential within a mature Winnipeg neighbourhood. It represents a rare entry point into the market for a specific buyer. This property would best suit a minimalist first-time buyer, an investor looking for a straightforward rental property, or someone seeking a modest, no-frills home with property taxes based on its lower assessment. A thoughtful perspective is that its smaller size and lot (3,574 sq ft) translate to lower utility costs and less exterior upkeep, which can be a significant long-term advantage. Its age suggests potential for classic architectural charm, but also implies that a thorough inspection is essential.
Frequently Asked Questions
1. Why is the assessed value so much lower than the averages shown?
The assessed value is based on specific property attributes. The home’s smaller size (605 sq ft), older age (1914), and lot dimensions result in a valuation that is consistently below averages for the street, neighbourhood, and city.
2. What does the "Top 97%" ranking for living area mean?
This statistic means the home’s living area is smaller than approximately 97% of comparable properties city-wide. It is a quantitative way of showing that this is a notably compact home relative to the market.
3. How reliable are the sold price ranges from 2017 and 2021?
The sold price data is based on publicly available information, not the MLS. The ranges are presented in $50k bands and have had limited verification. For fully verified, exact historical sale figures, you must request a manual lookup via the site's email service.
4. Is the older age of the home (1914) a concern?
While it adds character, a home of this age requires careful attention. Potential buyers should prioritize a comprehensive home inspection to understand the condition of foundational elements, plumbing, electrical systems, and the roof, as updates may be needed.
5. Who would this property not be suitable for?
It would likely not suit buyers needing multiple bedrooms, dedicated home office space, or those who entertain large groups frequently. The compact living area requires efficient use of space and a minimalist approach.