Property score
58.3
Fair
Overall 58.3 · Newer than most nearby homes
1,014 sqft (top 36%) · 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
Living Area
Near average
4% larger 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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58.3 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
723 Melrose Avenue W — 22 amenities found within 500 m, across 9 categories, including 5 dining (nearest 134 m), 1 education (nearest 260 m), 3 healthcare (nearest 229 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 20% | Top 20% | Bottom 40% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Top 33% | Top 33% | Bottom 30% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 723 Melrose Avenue W
Key Characteristics & Appeal
This 1,014 sqft bungalow, built in 1958, presents a solid opportunity in Winnipeg's Melrose neighbourhood. Its primary appeal lies in the balance it strikes: a home that is competitively sized for its immediate area, situated on a larger-than-average lot. At 5,100 sqft, the land parcel is notably more generous than most on the street and in the local area, offering valuable outdoor space or future potential.
The home’s assessed value stands out locally, ranking in the top 6% on its street and top 8% in Melrose, suggesting official recognition of its relative worth compared to neighbours. While the living space is typical for the community, it is more compact than the Winnipeg citywide average, indicating this is a home for efficient living rather than expansiveness.
This property would suit a first-time buyer or downsizer looking for a manageable footprint in an established neighbourhood, with the added benefit of a sizable yard. It’s also a candidate for those who see value in a lot with potential, whether for gardening, expansion, or long-term redevelopment. The recent sale history shows steady value growth, pointing to a stable investment.
Frequently Asked Questions
1. How does the home’s size compare to others?
At just over 1,000 sqft, the living area is very close to the average for both Melrose Avenue West and the broader Melrose area. It is, however, notably smaller than the typical Winnipeg home, which averages around 1,342 sqft.
2. Why is the assessed value so high compared to neighbours?
The assessment of $35,700 ranks in the top 10% for the local area. This typically reflects a combination of the home’s condition, improvements, and its above-average lot size relative to nearby properties.
3. What does the lot size mean for me?
The 5,100 sqft lot is about 25% larger than the average lot on the street. This provides more private outdoor space and could offer more flexibility for additions, landscaping, or other outdoor uses compared to tighter lots.
4. Is the sale price history available?
Exact sold prices are not publicly listed. The available data indicates it sold in the $300k-$350k range in 2019 and the $250k-$300k range in 2016. The precise figures can be requested directly from the listing service.
5. What are the implications of the 1958 build date?
Built in the late 1950s, this home is newer than many on its street and in Melrose, where average build years are 1948 and 1947 respectively. This can sometimes mean updated building materials and layouts, but a thorough inspection is always recommended to understand the condition of major systems like plumbing, electrical, and the roof.
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