Property Overview: 526 Neil Avenue, Winnipeg
Key Characteristics & Appeal
This 1,074 sqft bungalow, built in 1955, sits on a notably large, nearly 8,000 sqft lot in the Munroe West neighborhood. Its primary appeal lies in the exceptional land size, which ranks in the top 2% of the local area, offering significant space for gardening, expansion, or outdoor living—a relative rarity. The home’s assessed value of $328k positions it as a premium property within Munroe West (top 10%), suggesting a well-regarded location or above-average condition relative to nearby homes.
While the living space is modest and typical for the street, it is above average for the immediate area. A thoughtful perspective is that this property represents a "land-value play" with a liveable house. It suits a buyer looking for a solid foundation in a established neighborhood, with the future potential to renovate or expand thanks to the generous lot. It would also appeal to those who prioritize private outdoor space over a large interior footprint. The recent sale in 2024 indicates it was a move-in ready opportunity, not a project property.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The lot is a key feature. At 7,970 sqft, it is significantly larger than the average lot in both Munroe West (top 2%) and Winnipeg overall (top 11%).
2. Is the assessed value high for the area?
Yes. The $328k assessment is above average for both Neil Avenue and the Munroe West neighborhood, placing it in the top 10% locally. This often reflects the lot value, updates, or a desirable location on the street.
3. What does the sale history tell us?
The property sold between $350k-$400k in August 2024. This recent, stable turnover suggests it was a market-ready home and provides a clear benchmark for its current market value.
4. How does the living space compare?
At 1,074 sqft, the home is slightly smaller than the average on Neil Avenue but is actually above the average size for the broader Munroe West area, indicating a neighborhood of generally compact homes.
5. The home was built in 1955. Is that older than its neighbors?
Interestingly, no. On Neil Avenue, a 1955 build date is actually newer than most, ranking in the elite top 4%. For the wider area and city, its age is fairly typical for Winnipeg’s housing stock.