Property Overview: 335 Melrose Avenue W, Winnipeg

Key Characteristics & Appeal

This is a compact, century-old home built in 1914, situated on a standard-sized lot in the Melrose area. Its defining characteristic is its modest 595 sqft living area, which is notably smaller than most homes on its street, in the area, and across Winnipeg. The assessed value is correspondingly low at $21,700, placing it in a more affordable tier compared to local and city-wide averages.

The primary appeal lies in its affordability and the potential it represents. It is a candidate for a minimalist lifestyle, a dedicated renovation project, or a strategic land investment given its roughly 4,050 sqft lot. The home last sold between $150k-$200k in 2020, suggesting its market value is driven more by the land and location than the existing structure. It would best suit a hands-on buyer looking for an entry point into the market, an investor comfortable with a renovation or hold strategy, or someone seeking a low-cost footprint without the burden of a large mortgage.

A less obvious perspective is that a home of this age and size offers a clear historical snapshot of early 20th-century housing, and its survival for over 110 years speaks to the durability of its original build. Its low annual property taxes, inferred from the assessed value, could also be a significant long-term financial advantage.

Frequently Asked Questions

1. Why is the living area so much smaller than nearby homes?
As a home built in 1914, its floor plan reflects the norms and needs of that era, where homes were often more compact and efficient. Many surrounding properties have been expanded, replaced, or were simply built larger in subsequent decades.

2. What does the assessed value mean for the selling price?
The assessed value is used for calculating municipal property taxes and is typically lower than market value. The last known sale price (2020) was between $150,000 and $200,000, which is a more relevant indicator of its market worth.

3. Is this a teardown or a renovation project?
That depends on the buyer's goals and budget. The size, age, and low assessed value indicate the existing structure contributes less to the property's total value, making it a potential candidate for redevelopment. However, it could also be renovated, depending on its condition and heritage considerations.

4. How do the rankings (e.g., "Top 99%") work?
A "Top 99%" rank for living area means the home is in the bottom 1% for size—it is smaller than 99% of comparable properties. Conversely, a "Top 52%" rank for land area means the lot size is fairly average, being larger than about 52% of peers.

5. Can I get the exact historical sale price?
The exact sale prices are not publicly displayed in detail. The listing service offers to provide the precise figures manually via email upon request, at no cost and without marketing spam.