Property Overview

This home at 229 Pandora Avenue E in Winnipeg’s Melrose neighbourhood presents a specific and practical value proposition. Built in 1922, it’s a century-old property with 1,047 sqft of living space on a modest 2,971 sqft lot. Its current assessed value is $240,000.

The appeal here is grounded in affordability and location. The home’s value is notably below the Winnipeg city average, positioning it as an accessible entry point into the market. While the lot size is smaller than most in the area, this can translate to lower maintenance, a significant consideration for first-time buyers or those looking to downsize. The living space is comfortably in line with the local averages for Melrose and the street itself, suggesting a practical layout for a small household.

This property would best suit a pragmatic first-time homebuyer or an investor looking for a character home with a manageable footprint. It’s for someone who prioritizes getting into the market in a central neighbourhood over modern size standards or a large yard. The historical sale data, last transacting between $200k-$250k in 2016, indicates a stable value trajectory in line with its assessment.

Frequently Asked Questions

1. Is the smaller lot size a disadvantage?
While below average in size, a smaller lot means less yard work and lower exterior maintenance costs. It can be a practical benefit for those seeking a more manageable property.

2. How does the assessed value compare to recent sales?
The home was last sold in 2016 for an estimated $200,000-$250,000. Its current $240,000 assessment suggests its value has remained consistent in that range, which is below both the city and local street averages.

3. What should I consider with a home from 1922?
A home of this age will likely have older building systems, windows, and insulation. A thorough inspection is essential to understand the condition of the roof, foundation, wiring, and plumbing, and to budget for potential updates.

4. The rankings show it's "below average" in several categories. What does that mean?
These rankings compare it to specific groups of "comparable homes." Being below average in value, lot size, and year built primarily signals that it is a more affordable, compact, and older property than many others. This defines its market position rather than indicating a problem.

5. How can I get the exact historical sold price?
The exact sale price is not publicly listed. You can request it directly via the form on this property’s page, and the service provider will email you the accurate figure, typically by the end of the same business day.