Property Overview & Key Characteristics

This home at 410 Melrose Avenue E presents a distinct profile defined by its spacious interior within a well-established neighbourhood. Built in 1921, its primary appeal lies in its generous 1,428 sqft of living area, which ranks in the top 6% for both its immediate street and the broader Melrose area. This means you get significantly more interior space than most nearby homes, which average around 980 sqft. The property last sold in the $350k-$400k range in 2024, a price point that was competitive, ranking in the top 5-6% locally.

However, this comes with the trade-offs typical of an older home on a modest lot. The land size (2,970 sqft) is smaller than area averages, and the age of the home places it well below average for year built. The assessed value is solidly above average for the local context but aligns closer to the city-wide median.

This property would suit a buyer who prioritizes interior square footage and character over a large yard or newer construction. It’s ideal for someone looking for a home with room to grow within established neighbourhood streets, who is comfortable with the maintenance considerations of a century-old house, and who values a location where the home’s interior size is a standout feature.

Frequently Asked Questions

1. How does the home’s age impact its value and condition?
Built in 1921, the home is notably older than most in the area. While this can mean character and established neighbourhood roots, it typically requires closer attention to foundational, electrical, and plumbing systems. Its strong assessed value and recent sale price suggest it has been maintained or updated to remain competitive.

2. The lot seems smaller than average. Is that a major drawback?
The land area is indeed below the neighbourhood average. This could mean less outdoor maintenance and a more efficient yard layout, but it may limit expansion possibilities or extensive landscaping. It emphasizes the property’s value as being in the interior living space rather than the land itself.

3. The living area is in the top 6%. What does that practically mean?
It means this home offers about 450 more square feet than the typical home on its street. This significant difference could translate to extra bedrooms, larger common areas, or more flexible living space compared to most immediate neighbours, which is a key advantage.

4. The sold price ranks very high locally but is average city-wide. Why?
This highlights the variation in Winnipeg’s market. The home commands a premium price within the specific Melrose area due to its large size for that location. City-wide, that price point becomes more average, as it competes with newer or differently located homes of similar size.

5. What are the less obvious considerations with this property?
Consider the balance of features: you're acquiring above-average interior space on a below-average sized lot in an older home. This dynamic is perfect if you want a spacious interior without extensive yard work, but it also means future resale will likely hinge on the condition and appeal of the home itself, not the land. Its value is firmly rooted in the utility of its living space.