Property score
46.1
Below average
Overall 46.1 · Smaller than most nearby homes
736 sqft (bottom 19%) · Built in 1955 (8 yrs newer than avg)
Located in a above-average income area with median household income of ~73.5k
Transit 86.0 · 3-min walk to transit with 4 nearby routes · Within 500m: 2 parks, and 2 place of worships nearby
Living Area
Below average
24% smaller than neighborhood avg.
Year Built
Near average
8 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
Buying a home is more than a transaction. Our Winnipeg real estate agents provide market insights, pricing analysis, and neighbourhood expertise to help you decide with confidence.
Usually replies in a few minutes
Free · No credit card required
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
524 Melrose Avenue W — 4 amenities found within 500 m, across 2 categories, including 2 parks (nearest 439 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 14% | Top 13% | Bottom 46% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This 736 sqft bungalow at 524 Melrose Avenue W, built in 1955, presents a specific and practical opportunity in Winnipeg’s Melrose neighbourhood. Its key appeal lies in its generous 4,839 sqft lot, which is notably larger than most in the immediate area. While the living space is compact and below the local average, the property’s assessed value is consistent with neighbouring homes. This creates a scenario where you are investing more in the land than the structure—a classic value proposition for certain buyers. It recently sold in the $300k-$350k range, positioning it as an accessible entry point.
The home would suit a first-time buyer comfortable with a smaller footprint who values outdoor space for gardening, pets, or future expansion. It’s equally a candidate for an investor or renovator looking for a property with a favourable land-to-building ratio, where the core value is in the lot itself. The data suggests it’s not a luxury offering, but a solid, grounded property where the potential is tied to its land and location rather than its current finishes or size.
Frequently Asked Questions
1. Is the house in need of major updates?
Given its 1955 construction, buyers should budget for updates common to homes of this era. The systems, roof, and windows likely require inspection. The value here is in the land and location, so the condition of the structure should be a primary focus for any offer.
2. Why is the assessed value so much lower than the recent sale price?
The assessed value ($28,300) is for municipal tax purposes and is typically lower than market value. The recent sale price reflects the current market demand. The significant difference highlights that market buyers see value beyond the tax assessment, likely in the lot size and location.
3. How does the lot size compare to others?
The lot is a standout feature. At 4,839 sqft, it ranks in the top 30% for size on Melrose Avenue W. This is substantially larger than the street average (~4,095 sqft), offering more private outdoor space than most nearby properties.
4. What does the "below average" living area ranking mean for daily life?
With 736 sqft, the living space is compact. It ranks in the bottom 20% compared to the city overall. This suits a single person, a couple, or someone looking to minimize indoor maintenance. It may feel cramped for a family or anyone needing a home office or multiple dedicated rooms.
5. Is this a good investment property?
Its recent sale price and larger lot could make it a candidate for a rental property or a long-term hold. However, the smaller living area may limit rental income compared to larger homes. The investment thesis would lean on the land value appreciating and the potential for future redevelopment, rather than short-term cash flow from a premium rental.
Radar charts, rankings, and side-by-side layouts work best on a larger screen. Open this page on a desktop browser for the full experience.
