Property score
How it stacks up
Detailed ranking analysis ▼
Street Level (Melrose Avenue E): Above Average. Ranked #51 out of 342 (Top 15%). The street average for comparable homes is 980 sqft.
Neighborhood Level (Melrose): Above Average. Ranked #82 out of 557 (Top 15%). The neighborhood average for comparable homes is 973 sqft.
Citywide Level (Winnipeg): Around Average. Ranked #93,008 out of 194,457 (Top 48%). The citywide average for comparable homes is 1,342 sqft.
Street Level (Melrose Avenue E): Below Average. Ranked #227 out of 342 (Bottom 34%). The street average for comparable homes is 291.6k.
Neighborhood Level (Melrose): Below Average. Ranked #351 out of 557 (Bottom 37%). The neighborhood average for comparable homes is 289.1k.
Citywide Level (Winnipeg): Below Average. Ranked #167,119 out of 194,455 (Bottom 14%). The citywide average for comparable homes is 435.4k.
Street Level (Melrose Avenue E): Below Average. Ranked #243 out of 342 (Bottom 29%). The street average for comparable homes is 1948.
Neighborhood Level (Melrose): Below Average. Ranked #405 out of 557 (Bottom 27%). The neighborhood average for comparable homes is 1947.
Citywide Level (Winnipeg): Below Average. Ranked #169,712 out of 194,457 (Bottom 13%). The citywide average for comparable homes is 1966.
Street Level (Melrose Avenue E): Below Average. Ranked #316 out of 342 (Bottom 8%). The street average for comparable homes is 4,095 sqft.
Neighborhood Level (Melrose): Below Average. Ranked #522 out of 557 (Bottom 6%). The neighborhood average for comparable homes is 4,166 sqft.
Citywide Level (Winnipeg): Below Average. Ranked #180,120 out of 194,457 (Bottom 7%). 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
403 Melrose Avenue E — 4 amenities found within 500 m, across 3 categories, including 1 dining (nearest 499 m), 2 parks (nearest 309 m).
Crime & safety
Waste collection schedule
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Related homes
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Address · Year Built · Living Area
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Similar assessed value
Address · Tax-Assessed Value
Is this home right for you?
Property Overview: 403 Melrose Avenue E, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on efficient use of space. Its primary strength is its generous 1,224 sqft living area, which ranks in the top 15% for size both on its street and in the broader Melrose area. This means you get significantly more interior space than most nearby homes, which average around 980 sqft. The trade-off is a smaller, more manageable lot of 2,700 sqft.
Built in 1920, the property is a century-old character home. Its assessed value of $250,000 is modest compared to the Winnipeg citywide average, but is typical for the immediate neighborhood. This creates an interesting dynamic: you are acquiring a home with above-average interior space for the area, at a local market price, but on a below-average sized lot.
The appeal lies in this efficient footprint. It would suit a buyer who prioritizes indoor living space over extensive yard maintenance, and who appreciates the potential character of an older home without a premium citywide price tag. It’s a practical choice for small families, first-time buyers, or downsizers seeking room to live without the upkeep of a large property. A thoughtful perspective is recognizing that the smaller lot may also mean lower property taxes and less seasonal yard work, aligning with a simpler, more budget-conscious lifestyle.
Section 2: Frequently Asked Questions
1. How does the smaller lot size impact the property?
While the land area is below average for the neighborhood, it results in a low-maintenance yard. This can be a benefit for those not wanting extensive gardening or upkeep, but may not suit buyers seeking significant outdoor space for play or entertaining.
2. What does the 1920 build year imply for a buyer?
As a century-old home, it likely possesses character details but also requires a diligent inspection. Buyers should budget for potential updates to older mechanical systems, windows, or insulation that are typical for a home of this age.
3. The assessed value seems low citywide but average locally. What does this mean?
This indicates the home is priced within its established neighborhood context. You are not paying a premium for the Melrose area, which can be a advantage for entry into the market, but it also reflects the local valuation norms rather than citywide averages.
4. The home last sold between $200k-$250k in 2020. What does that tell us?
This recent sale price range, close to the current assessed value, suggests market stability in the area over the past five years without dramatic appreciation, pointing to a steady, grounded market segment.
5. Who would this property not be ideal for?
It may not suit buyers who prioritize a large, private yard, those seeking a modern home without renovation considerations, or investors looking for properties with values significantly below the city average for potential equity gains.