Property Overview: 404 Melrose Avenue W

Key Characteristics & Buyer Appeal

This home at 404 Melrose Avenue W is a compact, single-story residence built in 1959, situated on a standard city lot. Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, with a recent sale price between $300k-$350k. The 791 sqft living area is notably smaller than most homes in the city, suggesting a efficient, low-maintenance layout ideal for simplifying life.

The data reveals a thoughtful perspective: while the house itself is modest in size, its assessed value is competitive within its immediate neighborhood and street. This indicates you’re paying primarily for location and land rather than square footage. The lot size of 3,629 sqft is typical for the area and offers potential for outdoor space or future expansion, subject to local regulations. This property would best suit first-time buyers, downsizers, or pragmatic investors looking for a straightforward asset in an established area without the upkeep of a larger home. Its value is grounded in practicality and location rather than luxury or size.

Frequently Asked Questions

1. Why is the living area significantly smaller than the neighborhood average?
At 791 sqft, the home is indeed more compact than many in the area. This is characteristic of certain post-war builds and can mean lower utility costs and less maintenance, focusing the property's value on its lot and location.

2. How does the assessed value compare to the recent sale price?
The assessed value is significantly lower than the sale price, which is common. Assessments for tax purposes often lag behind market values, which are driven by current buyer demand, recent renovations, and market conditions not fully captured in the official valuation.

3. What does the "above average" year built ranking mean for this 1959 home?
On Melrose Avenue, a 1959 build is newer than many homes. This could suggest somewhat more modern construction materials or systems than older neighborhood houses, though a full inspection is always recommended to determine actual condition.

4. Are the sold prices of nearby homes on different streets relevant?
The listed nearby sales on streets like Regent and Victoria Avenue are provided as reference points for the general area's price range, but direct comparisons are limited. Value is heavily influenced by specific street, lot, and condition.

5. How can I get the exact historical sold price for this property?
The exact sale price is not publicly displayed in detail due to data sourcing. You can request the precise figure by emailing the provided service, which manually retrieves and shares this information without using your contact for marketing.