47.6
Below average
Property score
47.6
Below average
Overall 47.6
Older than most nearby homes
962 sqft (top 45%)
Built in 1914 (33 yrs older than avg)
Located in a above-average income area
with median household income of ~71k
Transit 74.0
2-min walk to transit with 2 nearby routes
Within 500m: 2 dining spots, 2 parks, and 3 place of worships nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Near average
1% smaller than neighborhood avg.
Year Built
Below average
33 yrs older than neighborhood avg.
Mother tongue
English · 83%Tagalog · 3%
Past 10 years Melrose sales snapshot (~80% of all data)
259
212.8k
$256/sqft
1947
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47.6 is composed by the two sections below.
Property Score
Community Score
Melrose
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.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110832
$71K
Median household income
$87K
Average household income
7%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.7
P90 / P10 ratio
36%
Single-person households
21%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
346 Melrose Avenue W — 7 amenities found within 500 m, across 3 categories, including 2 dining (nearest 354 m), 2 parks (nearest 230 m).
Melrose · WPS public data · 2026
Annual incidents
5
2026
vs. city avg
-83%
relative to avg
Year-over-year
▼ -94%
vs. prior year
Primary type
Property
60%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 8% | Bottom 9% | Bottom 6% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 346 Melrose Avenue W
Section 1: Key Characteristics & Appeal
This home is a practical, no-frills property that presents a clear value proposition. Built in 1914, it’s a century-old character home with 962 sqft of living space on a 2,970 sqft lot. Its standout feature is its very low municipal assessed value ($21,800), which places it in the bottom 15-20% of homes on its street, in the Melrose area, and across Winnipeg. This suggests a potentially lower property tax burden, a key financial advantage.
The appeal lies in its position as an affordable entry point into the market. The home’s living area is actually average for its immediate neighborhood, indicating it offers a functional amount of space relative to nearby houses. It would suit a first-time buyer, an investor looking for a rental property with a lower tax overhead, or a hands-on individual interested in a character home with renovation potential. A less obvious perspective is that its older age and below-average metrics might offer more flexibility for value-adding improvements compared to a newer, more "finished" property, where the cost is already maximized.
Section 2: Frequently Asked Questions
1. What does the low assessed value actually mean for me?
A low assessed value typically results in lower annual property taxes. However, it’s crucial to remember that a municipality’s assessed value is not the same as market value. The final sale price is determined by what a buyer is willing to pay.
2. As a 1914 home, what should I be prepared for?
Homes of this age often have character but require diligent inspection. Budget for potential updates to major systems like wiring, plumbing, and heating, and be mindful that renovations must meet modern building codes.
3. The lot size is below average. Is that a drawback?
While smaller than many city lots, it is proportional to others on the street and requires less maintenance. It may limit expansion possibilities but offers a manageable outdoor space.
4. How reliable are the sold price ranges shown?
The listed sold price (CA$150k–200k in 2021) is a public data estimate. For precise historical sale figures to inform your offer, you must request the exact data directly from the site via email.
5. The rankings show it's "below average" in many categories. Is this a bad buy?
Not necessarily. These metrics are comparative, not qualitative. They highlight that this is a modest, affordable property in its context. For the right buyer, this represents an opportunity to enter the market at a lower point, with the understanding that the home may not have the same features or size as a newer, more expensive property.
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