Property Overview: 562 Melbourne Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a solid, value-oriented opportunity in the Munroe West neighbourhood. Its key appeal lies in offering a balanced urban living package at a below-city-average price point. The 848 sqft bungalow, built in 1955, sits on a notably generous 5,299 sqft lot for the street and local area, providing above-average outdoor space and potential. With an assessed value of $264,000, it is positioned comfortably around the average for both its street and the Munroe West area, but significantly below the Winnipeg city average, suggesting relative affordability.
The property suits first-time buyers seeking a manageable home with room to grow, or value-focused investors. Its appeal is grounded in practicality: you're acquiring a larger-than-typical lot in a mature neighbourhood, which could allow for future expansion, gardening, or simply more private space. A thoughtful perspective is that while the living area is compact city-wide, its efficient layout on a large lot offers a different kind of balance—prioritizing outdoor room over indoor square footage, which can be a rarer find. The recent sale in early 2023 indicates a modern transaction history, providing a clear, recent market benchmark for buyers.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to nearby properties?
The home’s assessed value is very typical for Melbourne Avenue and the broader Munroe West area, ranking near the middle. However, it sits about 32% below the average assessed value for comparable homes across Winnipeg, highlighting the neighbourhood's affordability relative to the wider city.
2. Is the house small compared to others?
At 848 sqft, the living area is slightly below the average for Munroe West and more compact than the typical Winnipeg home. This indicates a more efficient, likely easier-to-maintain footprint. On its street, however, it's very close to the average size.
3. What are the advantages of the larger lot size?
The 5,299 sqft lot is larger than about 82% of lots on Melbourne Avenue. This is a standout feature, offering more privacy, space for recreation, gardening, or future projects like a shed, deck, or addition, which can be difficult to find in established neighbourhoods.
4. Given it was built in 1955, what should I consider?
While newer than many homes on its street and in Munroe West, a 71-year-old home will likely have had updates. A key consideration is the condition and age of major systems (roof, wiring, plumbing, windows) and whether any recent renovations align with modern standards. Its age is typical for the city overall.
5. Where can I get verified historical sale data?
The site notes that exact sold prices are not displayed publicly due to industry rules. They offer a manual lookup service; you can request the exact sale history by email, and they will provide the verified figures directly to you at no cost.