Property Overview: 527 Melbourne Avenue, Winnipeg
Key Characteristics & Appeal
This 884 sqft bungalow, built in 1957, presents a compelling mix of neighbourhood stature and future potential. Its primary appeal lies in the generous 5,979 sqft lot, which ranks in the top 3% on its street and the top 13% in the Munroe West area. This offers significant outdoor space and redevelopment possibilities rare for the locale. With an assessed value of $295,000, it sits above the street average, suggesting the property is viewed favorably relative to its immediate peers, though it remains below the Winnipeg citywide average for home values.
The home would suit practical buyers who prioritize land size over interior square footage. It's an ideal match for someone looking to put down roots in a established neighbourhood, with the vision to either expand the existing home, add landscaping, or hold the property for its land value. It’s less suited for those seeking a large, modern interior without renovation work, as the living area is below the city average.
Frequently Asked Questions
1. Why is the assessed value above the street average if the house is smaller and older than many?
The higher-than-street-average assessment is likely heavily influenced by the property's exceptionally large lot size for the area, which adds significant value.
2. What does the "Elite" ranking for Land Area actually mean?
It means this property's lot size is larger than 97% of the 194 comparable properties on Melbourne Avenue, making it a standout feature on this specific street.
3. Is the below-average citywide living area a concern?
It depends on your needs. For a single person, couple, or small family, 884 sqft can be sufficient. The trade-off is gaining a much larger yard than typical city lots offer.
4. How reliable is the sales history data provided?
The site notes its data is from public sources, not the MLS, and may have gaps. For a complete and verified transaction history, you must request a manual lookup from their team.
5. What is the likely maintenance consideration given the home's age?
Built in 1957, the core systems (roof, plumbing, electrical, foundation) are likely older and should be carefully inspected to budget for potential updates or repairs.