Property Overview
This home at 409 Melbourne Avenue in Winnipeg's Munroe West neighbourhood presents a specific value proposition centered on its generous lot. Built in 1946, the 728 sqft house is compact, ranking below average in size for its street, area, and the wider city. Its assessed value of $274,000 is fairly typical for Munroe West but sits below the Winnipeg city average, indicating a potentially accessible entry point. The standout feature is the 5,725 sqft land area, which is notably larger than most lots on Melbourne Avenue and in the immediate area. This creates a clear contrast between the modest home and its expansive outdoor space.
The primary appeal lies in this land-to-structure ratio. It suits a buyer comfortable with a smaller, character home who prioritizes private outdoor space for gardening, recreation, or future expansion over interior square footage. It’s a practical option for first-time buyers or downsizers seeking a manageable home without sacrificing yard size. A thoughtful perspective is that the below-average city-wide rankings for living area and value might represent a chance to secure a larger-than-average lot in a established neighbourhood at a relative discount, with the understanding that updates to an 80-year-old home may be part of the journey.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its age of 80 years, prospective buyers should budget for potential updates. While systems may have been maintained or replaced, a thorough inspection is essential to understand the condition of the roof, wiring, plumbing, and foundation common to homes of this era.
2. How does the lot size compare to nearby properties?
The lot is a key asset. At 5,725 sqft, it ranks in the top 8% on Melbourne Avenue and the top 23% in Munroe West for land area, meaning it is significantly larger than many neighbouring properties.
3. What is the neighbourhood like?
Munroe West is a mature, established neighbourhood in Winnipeg. The property's assessed value is around the average for this area, suggesting it fits within the local market context. The close proximity of similar-aged homes on Melbourne Avenue indicates a consistent streetscape.
4. Why is the assessed value below the city-wide average?
The city-wide average assessed value is skewed higher by newer, larger homes in different areas. At $274,000, this home’s assessment is actually slightly above the average for its own street and aligns with the Munroe West average, reflecting its realistic value within its immediate market.
5. Can I find out the exact historical sale price?
The listing indicates the home sold in January 2017 for between $200,000 and $250,000. For fully verified and exact transaction figures, you must request a manual lookup from the site via email, as they do not display MLS sold data directly.