Property Overview: 323 Melrose Avenue W

Section 1: Key Characteristics & Appeal

This is a modest, post-war bungalow built in 1947, offering a practical footprint of 987 sqft on a standard 4,200 sqft lot. Its key appeal lies in its positioning as an affordable entry point into the Winnipeg market. The home’s assessed value is notably below average for its street, neighborhood, and the wider city, suggesting a lower property tax burden and potential value for a cost-conscious buyer.

The home suits first-time buyers or investors looking for a straightforward, no-frills property where the land value and location provide the foundation. It’s a typical home for Melrose Avenue, fitting right in with the scale and vintage of the area. A thoughtful perspective for a buyer here is to see beyond the smaller living area compared to the city average; this property represents a chance to own in a mature neighborhood without a premium price tag, potentially freeing up budget for updates or simply for lower ongoing costs. Its recent sale history (between $150k-$200k in 2016) and consistent below-average assessments indicate it has served as a reliable, affordable holding in the area.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is influenced by many factors, including home size, age, and specific market area. This home’s value is consistent with others on its street and in Melrose, reflecting the local market conditions for homes of this type and era.

2. What does the "Top 76%" ranking for living area city-wide mean?
It means that approximately 76% of comparable homes across Winnipeg have a larger living area. This confirms the home is more compact than the citywide average, but it is very typical for its immediate neighborhood.

3. How recent is the sold price data shown?
The last recorded sale for this property was in 2016. The price range shown ($150k-$200k) is based on public data from that time. For the exact historical sale price, you can request it via email from the site.

4. What are the implications of buying a home built in 1947?
Homes of this age offer classic character and are often solidly built, but prospective buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and ensure a thorough inspection is completed. Its age is typical for the area.

5. Is the lot size a good for future expansion or gardening?
At 4,200 sqft, the lot is slightly larger than others on the street and in the area. It provides a decent outdoor space for a garden or recreation. However, it is below the citywide average, so expectations should be set for a standard urban yard, not an expansive one.