Property Summary: 301 Melrose Avenue W

Key Characteristics & Appeal

This is a modest, well-established home built in 1944, offering a practical footprint of 916 sqft. Its standout feature is the generous 4,900 sqft lot, which is notably larger than most in the immediate Melrose area. This presents a significant opportunity for outdoor space, gardening, or future expansion that is rare for the neighbourhood.

The home’s primary appeal lies in its value proposition. With a currently assessed value significantly below averages for the street, area, and city, it represents an accessible entry point into the Winnipeg market. This is a property for buyers who prioritize land size and potential over turn-key condition or above-average living space. It would suit a first-time buyer comfortable with a home of vintage character, an investor looking for a land-hold opportunity, or a hands-on owner who sees value in personalizing a property over time. Its recent sale between 2022-2025 suggests it has been part of the active market, and its below-average assessment may indicate room for value growth through updates.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessment values are based on a mass appraisal system and historical data. A value this far below averages can reflect the home’s age, specific condition, and modest size relative to the broader city market. It does not necessarily reflect the potential market price but indicates a lower property tax base.

2. What does the large lot size mean for me?
A lot size that ranks in the top 30% for the area is a key asset. It offers more private outdoor space than neighbours, potential for additions like a garage or garden suite (subject to zoning), and generally provides a greater sense of openness.

3. The home sold recently (2022-2025). What does that indicate?
A sale within the last few years suggests the property is likely in livable condition and has been part of the modern transaction cycle. It provides a recent, though estimated, price range for market comparison, but the exact sale terms and any subsequent changes would need verification.

4. As a 1944 home, what should I be prepared for?
Homes of this era may have original building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and insulation. This is typical for the neighbourhood, where most homes were built around the same post-war period.

5. How do you interpret the "Top X%" rankings for each feature?
These rankings compare this specific property against groups of similar homes. For example, "Top 27%" for land area means 73% of homes on Melrose Avenue W have a smaller lot. Conversely, "Top 95%" for assessed value means its value is in the bottom 5% on the street. It’s a quick way to see where the property excels or is more modest compared to its immediate peers.