Property Overview: 314 Melrose Avenue E

Key Characteristics & Appeal

This home presents a compelling mix of modern convenience and established neighborhood value. Built in 2018, it is a notably newer construction compared to most homes on its street and in Winnipeg broadly, ranking in the top 3-4% for its year built. This translates to less immediate concern for major system updates and likely incorporates contemporary building standards.

The appeal lies in this balance. While the 932 sqft living area is efficient and on par with the local area, it sits below the citywide average, suggesting a more manageable, low-maintenance footprint. The lot size follows a similar pattern: ample for the neighborhood but smaller than typical city lots, reducing yard work. A standout feature is its assessed value, which is significantly above average for both the street and the broader Melrose area, indicating that official valuations recognize its premium attributes within this specific context. This home last sold in the $250k-$300k range in 2021.

It would suit first-time buyers or downsizers seeking a modern, move-in-ready home without the upkeep of a larger property. It’s also a practical choice for investors or owners looking for a newer asset in a mature neighborhood, where its recent build date and strong relative assessment could be long-term advantages.

Frequently Asked Questions

1. How does the smaller living area compare to nearby homes?
The living space is very typical for the Melrose area, ranking near the middle of local comparisons. It is, however, more compact than the average Winnipeg home, emphasizing efficient use of space over sheer size.

2. Why is the assessed value so high compared to the street average?
The assessed value ranks in the top 11% for Melrose Avenue E. This is primarily driven by the home's very recent construction year (2018), which carries significant weight in property assessment models compared to the street's average home built in 1948.

3. What does the "Elite" ranking for Year Built mean?
This statistical ranking shows the home is newer than approximately 97% of properties on its street and in the local area. It highlights one of the property's clearest competitive advantages: its age and presumed modern infrastructure.

4. Is the lot size a limitation?
At just over 4,000 sqft, the lot is standard for the neighborhood. It offers adequate private outdoor space while requiring less maintenance than the larger, city-wide average lot. For buyers prioritizing yard size, it's average locally; for those seeking minimal exterior upkeep, it's a benefit.

5. How can I find out the exact past sale price?
The precise sale price is not published in the public record. The listing service provides the estimated range from public data and offers to manually share the exact figure via email upon request, typically by the end of the same business day.