Property score
How it stacks up
Detailed ranking analysis ▼
Street Level (Melrose Avenue W): Around Average. Ranked #88 out of 342 (Top 26%). The street average for comparable homes is 980 sqft.
Neighborhood Level (Melrose): Around Average. Ranked #140 out of 557 (Top 25%). The neighborhood average for comparable homes is 973 sqft.
Citywide Level (Winnipeg): Below Average. Ranked #119,347 out of 194,457 (Bottom 39%). The citywide average for comparable homes is 1,342 sqft.
Street Level (Melrose Avenue W): Below Average. Ranked #185 out of 342 (Bottom 46%). The street average for comparable homes is 291.6k.
Neighborhood Level (Melrose): Around Average. Ranked #271 out of 557 (Top 49%). The neighborhood average for comparable homes is 289.1k.
Citywide Level (Winnipeg): Below Average. Ranked #157,246 out of 194,455 (Bottom 19%). The citywide average for comparable homes is 435.4k.
Street Level (Melrose Avenue W): Below Average. Ranked #308 out of 342 (Bottom 10%). The street average for comparable homes is 1948.
Neighborhood Level (Melrose): Below Average. Ranked #498 out of 557 (Bottom 11%). The neighborhood average for comparable homes is 1947.
Citywide Level (Winnipeg): Below Average. Ranked #172,894 out of 194,457 (Bottom 11%). The citywide average for comparable homes is 1966.
Street Level (Melrose Avenue W): Below Average. Ranked #254 out of 342 (Bottom 26%). The street average for comparable homes is 4,095 sqft.
Neighborhood Level (Melrose): Below Average. Ranked #438 out of 557 (Bottom 21%). The neighborhood average for comparable homes is 4,166 sqft.
Citywide Level (Winnipeg): Below Average. Ranked #175,502 out of 194,457 (Bottom 10%). The citywide average for comparable homes is 6,570 sqft.
Melrose market pulse
How to read: Share of sales in each ~$50k price band for “melrose” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
- Exact sold prices
- Detailed market analysis
- PDF report download
- Neighbourhood insights
- Recent sold count in the area
Who lives in this neighbourhood
Transit, amenities & safety
Nearby Amenities
314 Melrose Avenue W — 10 amenities found within 500 m, across 4 categories, including 4 dining (nearest 224 m), 2 parks (nearest 99 m).
Crime & safety
Waste collection schedule
We are licensed Manitoba real estate agents. Contact us to obtain all MLS whole sold records for 314 Melrose Avenue W. No advertising. Data source details →
Related homes
Nearby interested homes
Address · Year Built · Living Area
Nearby properties
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Similar assessed value
Address · Tax-Assessed Value
Is this home right for you?
Property Overview: 314 Melrose Avenue W
Key Characteristics & Appeal
This home presents a distinct profile centered on space and value within its immediate neighborhood. Built in 1914, it is a century-old property with a living area of 1,091 sq ft, which is notably above average for both Melrose Avenue and the broader Melrose area. This suggests a home that may offer more interior room than many of its nearby counterparts. The lot size of 2,970 sq ft is more modest in comparison to area averages.
The primary appeal lies in its recent sold price history, indicating strong market demand and value growth. It last sold in the $250k-$300k range in 2024, a significant increase from its $150k-$200k sale in 2021. Despite this market performance, its assessed value for tax purposes remains low ($21,200), which is a consistent feature among homes on this street. This creates a potential financial dynamic of lower property taxes relative to potential market value.
This property would suit a value-conscious buyer looking for above-average interior space in an established neighborhood, who is comfortable with the maintenance considerations of an older home. It’s also a candidate for buyers interested in areas where assessed values haven't yet caught up to recent sale prices. The significant appreciation over three years may attract those seeing ongoing potential, but it also means entering at a notably higher price point than just a few years ago.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed value, used for calculating property taxes, often lags behind rapid market changes. The substantial increase in sale price between 2021 and 2024 may not yet be fully reflected in the official assessment, which appears consistently low for this entire street.
2. What does the "above average" living area ranking mean practically?
It means this home's interior square footage is larger than approximately 75% of similar homes on Melrose Avenue W and in the Melrose area. You are likely getting more indoor space than most comparable properties nearby.
3. Are there concerns with a house built in 1914?
While offering classic charm, a 112-year-old home requires diligent attention to aging components like plumbing, electrical, and the foundation. A thorough, specialized inspection is essential to understand the condition and potential upcoming investments.
4. The lot size is ranked "below average." How significant is this?
The lot is smaller than many in the city and area, but it's closer to the street average. It provides a manageable outdoor space but may limit expansion possibilities or feel compact compared to newer suburban lots.
5. How reliable are the provided sold price ranges?
The ranges are based on public data. For the exact historical sold prices, you must request them directly via the provided email service, as precise figures are not publicly disclosed in all jurisdictions.