Property Overview: 551 Melbourne Avenue, Winnipeg
Key Characteristics & Appeal
This 922 sqft bungalow, built in 1956, sits on a notably generous 5,384 sqft lot in the Munroe West neighborhood. Its primary appeal lies in the value of the land and its strong standing within its immediate context. While the home's living area is modest by city-wide standards, it is competitively sized for the street and area. The assessed value of $287k is above average for Melbourne Avenue, suggesting the property is well-regarded in its direct peer group.
The home would suit practical, value-oriented buyers. It's ideal for a first-time homeowner comfortable with a property from the 1950s, or an investor attracted by the larger-than-average lot in a stable neighborhood. The data indicates you are purchasing a property that outperforms many of its closest neighbors in key metrics like lot size and assessed value, which can be a smart, grounded strategy. It represents an opportunity to own a home with inherent equity in its land, rather than paying a premium for extensive finished space.
Frequently Asked Questions
1. How does this home compare to others on the street?
It holds a strong position. It has a larger lot (top 9%), a higher assessed value (top 22%), and is newer (top 12%) than most homes on Melbourne Avenue. The living space is comfortably above the street's average.
2. The home was last sold in 2017. Can I get the exact sale price?
The public data shows a sale price range of CA$200k–250k for January 2017. For fully verified and exact historical transaction figures, you can request a manual lookup via email from the site, as they do not display MLS records.
3. What might the larger lot size mean for me?
A lot size that ranks in the top 10% on the street offers clear advantages: more outdoor space, better potential for additions or a garage, and generally more privacy than neighboring properties. It's a tangible asset that isn't easily replicated.
4. The city-wide rankings for size and value seem low. Is this a concern?
Not necessarily. This reflects the difference between mature neighborhoods like Munroe West and newer suburban areas. City-wide averages are skewed by larger, newer, and more expensive homes elsewhere. The more relevant comparisons are within the neighborhood and street, where this property is competitive.
5. What are the nearby homes like?
The adjacent properties on Melbourne Avenue are of similar vintage (1940s-1950s), with comparable or slightly smaller living areas and lot sizes. This consistency suggests a stable, established streetscape without drastic variations in property scale.