367 Melbourne Avenue

Property Overview: 367 Melbourne Avenue, Winnipeg

Key Characteristics & Appeal

This home presents a compelling value proposition within the Munroe West neighbourhood. Built in 1961, it is notably newer than most homes on its street and in the immediate area, which typically date to the 1940s. This suggests potentially fewer issues associated with very old infrastructure. With 964 sqft of living space, it offers more room than the average home on Melbourne Avenue, providing above-average interior space for the local context.

The primary appeal lies in its strong assessed value of $317,000, which ranks in the top 6% on its street and top 14% in Munroe West. This indicates it is perceived as a higher-value property within its core comparison groups, likely due to its combination of newer build year and generous living area. However, the lot size is more compact at 3,575 sqft, which means lower maintenance but less private outdoor space compared to neighbours.

This property would suit a first-time buyer or downsizer seeking a well-positioned, move-in-ready home in a stable neighbourhood without the premium price of a larger lot. It’s also a practical choice for those who prioritize interior space and modern construction (relative to the area) over extensive yard work. The data suggests you are paying for a quality structure in a sought-after location, rather than land.

Frequently Asked Questions

1. How does the sold price from 2022 relate to the current assessed value?
The home sold for an estimated $350k-$400k in mid-2022. The current assessed value of $317k is below that range, which may reflect market adjustments or the municipality's assessment methodology. It’s important to get verified sale figures and a current market evaluation.

2. What does the "newer" build year really mean for a 1961 home?
While 1961 is not new, it is significantly newer than the average 1942-1945 home in the vicinity. This could mean updated electrical, plumbing, or foundation standards for its era, potentially reducing the immediate need for major system upgrades common in pre-war homes.

3. The lot is smaller than average. Is that a disadvantage?
It depends on your lifestyle. A smaller lot means less yard maintenance, which can be a benefit for busy professionals or those wanting a lock-and-leave property. The trade-off is less space for gardening, expansions, or large outdoor gatherings.

4. The assessed value ranks very high locally but is average citywide. Why?
This highlights the neighbourhood's overall affordability compared to the wider Winnipeg market. The home is a higher-tier property within Munroe West, but its value is moderated when compared to newer or larger homes in more expensive city districts. It signifies strong local appeal.

5. Where can I see exact historical sold prices?
Due to data licensing rules, exact sold prices are not displayed publicly on this site. You can request the full, verified transaction history by email using the provided form, and the team will send it to you directly.