50.5
Fair
Property score
50.5
Fair
Overall 50.5
Newer than most nearby homes
892 sqft (bottom 45%)
Built in 1958 (11 yrs newer than avg)
Located in a above-average income area
with median household income of ~73.5k
Transit 94.0
2-min walk to transit with 4 nearby routes
Within 500m: 5 dining spots, 1 school, 3 healthcare facilitys, and 2 shops nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Near average
8% smaller than neighborhood avg.
Year Built
Above average
11 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
716 Melrose Avenue W — 22 amenities found within 500 m, across 9 categories, including 5 dining (nearest 178 m), 1 education (nearest 314 m), 3 healthcare (nearest 289 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 44% | Top 43% | Bottom 21% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 716 Melrose Avenue W
Key Characteristics & Appeal
This 892 sqft bungalow, built in 1958, sits on a notably generous 4,895 sqft lot in Winnipeg’s Melrose neighborhood. The home’s primary appeal lies in its land value and established location. While the living space is modest and below the city-wide average, the lot size is significantly larger than those of most immediate neighbors, offering above-average outdoor potential for the area. The assessed value ranks highly within Melrose, suggesting the property is considered a solid asset in its local market context.
This property would suit a practical buyer looking for a foothold in a mature neighborhood, with a vision for the future. It’s a candidate for those comfortable with a home that may require updates, who value a larger yard for gardening, children, or expansion over interior square footage. It also appeals to the value-conscious investor or homeowner who understands that a premium lot in a stable area often forms a strong foundation for long-term value, even if the house itself is a simpler post-war design.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value of $30,500 is for municipal tax purposes. Market value (what a buyer might pay) is determined by recent sales, condition, and demand, and is typically different.
2. The home seems smaller than average. What are the advantages?
The living area is efficient, which can mean lower heating costs and less maintenance. The key trade-off is the larger-than-average lot, which provides valuable outdoor space—a rarity in older neighborhoods—and potential for additions, a garage, or landscaping.
3. What does the "above average" ranking for Year Built mean?
Built in 1958, this home is newer than many on its street and in the Melrose area, where average build years are 1948 and 1947, respectively. This could imply somewhat newer construction materials, systems, or layout compared to many nearby homes.
4. How reliable are the provided past sale price ranges?
The ranges (e.g., Sold 2016: CA$200k–250k) are based on public data estimates. For precise historical sale prices, you must request the exact figures from the provided service, as they verify records manually.
5. What should I consider about a home from this era?
A 1958-built home likely has older major systems (roof, plumbing, electrical, insulation). A thorough inspection is essential to understand the condition and to budget for any necessary updates or modernizations to improve comfort and efficiency.
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