Property score
46.1
Below average
Overall 46.1 · Smaller than most nearby homes
728 sqft (bottom 14%) · Built in 1952 (5 yrs newer than avg)
Located in a above-average income area with median household income of ~73.5k
Transit 82.0 · 1-min walk to transit with 2 nearby routes · Within 500m: 1 park, and 1 place of worship nearby
Living Area
Below average
25% smaller than neighborhood avg.
Year Built
Near average
5 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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46.1 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
506 Regent Avenue W — 2 amenities found within 500 m, across 2 categories, including 1 parks (nearest 473 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 | Top 13% | Top 17% | Bottom 43% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 40% | Bottom 35% | Bottom 14% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Summary: 506 Regent Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its land and assessed value within its immediate context. Built in 1952, the 728 sqft house is notably compact, ranking in the bottom 15% for living space on its street and in the Melrose area. However, this is balanced by a generous, above-average lot of nearly 5,000 sqft, placing it in the top 25% locally for land area. The property’s assessed value of $30,200 is consistently above average for both the street and the neighbourhood, suggesting official recognition of its underlying lot value or potential.
The primary appeal lies in this land-to-structure ratio. It suits a buyer looking for a foothold in the area with a clear opportunity to add value, whether through expansion, renovation, or redevelopment over time. It’s a practical choice for an investor, a first-time buyer comfortable with a smaller footprint, or a hands-on owner who sees the potential in the sizable yard. The recent 2024 sale in the $300k-$350k range, which ranks in the top 13% of sales on the street, indicates strong market interest in this specific potential.
Section 2: Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
At 728 sqft, the home is significantly more compact than most neighbours. This is characteristic of its original 1950s build and highlights that the property’s current value is likely more tied to its land than its existing structure.
2. What does the high assessed value relative to the street mean?
While the house is small, its assessed value ($30,200) is above the street average. This typically reflects the city’s assessment of the property’s market value, heavily influenced here by the larger-than-average lot size in a established neighbourhood.
3. Is the large lot a potential advantage?
Yes. The lot of 4,948 sqft is a key feature, offering ample outdoor space and future potential that many newer properties lack. This provides flexibility for gardening, additions, or other improvements subject to local zoning.
4. How does the recent sale price compare?
The 2024 sale price range of $300k-$350k placed in the top 13% of sales for Regent Avenue W. This suggests buyers are paying a premium for the property’s specific combination of location and lot potential, despite the home’s modest size.
5. Who would this property not suit?
It may not be the best fit for buyers seeking a move-in-ready home with ample interior space who do not wish to undertake renovations or consider future construction projects. The value here is in the opportunity, not in immediate square footage.
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