Property score
50.5
Fair
Overall 50.5 · Compared with neighbourhood average
867 sqft (bottom 41%) · Built in 1957 (10 yrs newer than avg)
Located in a above-average income area with median household income of ~73.5k
Transit 82.0 · 2-min walk to transit with 2 nearby routes · Within 500m: 1 park, and 1 place of worship nearby
Living Area
Near average
11% smaller than neighborhood avg.
Year Built
Near average
10 yrs newer than neighborhood avg.
Mother tongue
English · 74%Tagalog · 9%
Past 10 years Melrose sales snapshot (~80% of all data)
259
212.8k
$256/sqft
1947
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50.5 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: #46110823
$74K
Median household income
$79K
Average household income
10%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.6
P90 / P10 ratio
32%
Single-person households
27%
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
505 Melrose Avenue W — 2 amenities found within 500 m, across 2 categories, including 1 parks (nearest 478 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 39% | Bottom 42% | Bottom 15% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
505 Melrose Avenue W is a well-established, single-family home built in 1957. With 867 square feet of living space on a notably generous 4,898 square foot lot, it presents a specific value proposition. Its assessed value is significantly below the city-wide average, positioning it as an accessible entry point into the Winnipeg market. The home’s appeal lies in its balance of a larger-than-average lot for the immediate area, a manageable footprint for maintenance, and a price point that reflects its modest size and vintage.
This property would suit first-time buyers or practical investors looking for a lower-cost holding with land potential. Its value is more in the land than the structure, making it a candidate for those with a long-term view, whether that means future expansion, redevelopment, or simply securing an affordable home in a settled neighbourhood. It’s less suited for those seeking modern finishes, ample indoor space, or a premium city-wide location.
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on the property's specific attributes—its smaller living area, age, and location—compared to the broader Winnipeg market, which includes many newer and larger homes. It is more in line with averages for the immediate Melrose area.
2. What does the lot size ranking mean for potential?
The lot is ranked in the top 30% for size on its street and in the Melrose area. This above-average land parcel is a key feature, offering more outdoor space or future redevelopment flexibility than many neighbouring properties.
3. How should I interpret the sold price history?
The listed sold price range from 2019 is a public estimate. For the exact historical sale price, you must request the information directly via the provided email service, as this data is verified manually.
4. Is the living area sufficient for a small family?
At 867 sq ft, the living space is below the city average and comparable to many one-bedroom condos. It would require efficient use of space and may feel cramped for a family, but could work for a couple, a single occupant, or as a rental property.
5. What are the main considerations given the home's age?
Built in 1957, the home is older than most on its street. Prospective buyers should budget for potential updates to major aging systems like plumbing, electrical, or the roof, and consider an inspection to evaluate its current condition.
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