556 Bronx Avenue

Property Summary: 556 Bronx Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 918 sqft bungalow, built in 1955, presents a compelling value proposition within Winnipeg's Munroe West neighborhood. Its primary appeal lies in a significant lot size of 5,850 sqft, which is well above average for both the immediate street and the broader area. This offers substantial outdoor space and potential for gardening, expansion, or future development, a notable advantage in an established community.

The home’s assessed value of $361,000 is a standout feature, ranking in the top 3% of the Munroe West area. This suggests the property is viewed as a premium asset within its local market, likely due to its generous lot. While the living area is modest compared to the city-wide average, it is typical for the neighborhood. This creates an interesting dynamic: you are acquiring a highly valued property with a smaller footprint on a large lot, which may suit a buyer looking for land value and the option to renovate or expand over time.

This property would best suit a pragmatic buyer who values land over sheer interior size. It’s ideal for someone seeking a established neighborhood character, who may be willing to update a 1950s-era home to modern standards in exchange for a premium lot. It could also appeal to an investor or homeowner with long-term vision, seeing the underlying land value and the possibility of tailoring the space to their needs.

Section 2: Frequently Asked Questions

1. Why is the assessed value so high compared to nearby homes?
The assessed value is likely elevated due to the property's significantly larger lot size (5,850 sqft) compared to area averages. Assessors factor land value heavily, and this lot is in the top 13% on its street and top 19% in Munroe West.

2. How does the home's size compare to others?
At 918 sqft, the living area is slightly below the average for the city overall but is quite typical for the Munroe West neighborhood, ranking near the middle of homes in the area.

3. What is the recent sales history?
Records indicate the property sold in April 2022 for an estimated price between $400,000 and $450,000. For fully verified and exact historical sale figures, a manual lookup via the site's email request service is recommended.

4. Is the lot size a potential advantage?
Yes. The lot is substantially larger than most in the immediate vicinity. This provides more privacy, yard space, and potential for additions, gardens, or sheds that wouldn't be possible on a standard lot.

5. What does the "Elite" ranking for assessed value in Munroe West mean?
This means the property's assessed value is in the top 3% of all 1,123 comparable homes in the Munroe West area. It indicates that, for property assessment purposes, this is considered one of the higher-value homes in this specific neighborhood.