Property Overview
This 924 sqft bungalow at 542 Melbourne Avenue, built in 1955, presents a compelling opportunity in Winnipeg's Munroe West neighborhood. Its primary appeal lies in its strong value proposition within its immediate context. While its living space is modest compared to the citywide average, the home stands out on its own street and in its area with an assessed value of $327k, which ranks in the top 4% and 10% respectively. This suggests a well-regarded property that may have seen updates or sits on a desirable stretch of the avenue. The lot is a standard size for the local area at just under 4,200 sqft.
This home would suit a first-time buyer or downsizer looking for a manageable, single-level footprint in an established neighborhood. It’s also a practical option for an investor seeking a property with a solid assessment base in a stable community. The data indicates you are paying a premium for the specific location on Melbourne Avenue, making it ideal for someone who values that precise setting over maximum square footage.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessment ranks in the elite top 4% on its own street. This typically reflects factors like recent improvements, the property's condition, or its specific location on the block, making it a standout among its direct neighbors.
2. Is the living space sufficient for a small family?
At 924 sqft, the living area is around the local average but below the citywide standard. It would be a comfortable fit for a couple, a single person, or a small family comfortable with a more compact, efficient layout characteristic of many 1950s bungalows.
3. What does the sale history indicate?
The property last sold in December 2020 for an estimated $300k-$350k. This past price, combined with the current high assessed value for the area, suggests the property has maintained or increased its market position.
4. How does the lot size compare?
The 4,199 sqft lot is very typical for Munroe West. It provides a standard yard space for the neighborhood but is below the larger city average, aligning with expectations for this established community.
5. Where can I get verified sale price data for this home?
The site provides estimated sold price ranges. For the exact sale history and verified figures, you must request a manual lookup via email, as this data is not sourced from the MLS.