Property Overview & Key Characteristics

This home at 650 Munroe Avenue is a modest, century-old property that presents a specific value proposition. Its key characteristics are defined by its age, size, and assessed value. Built in 1925, the 700 sqft house sits on a roughly average-sized lot for the street (4,558 sqft). The home's living area is notably smaller than most comparable properties in the neighbourhood, city, and even on its own street. This is reflected in its assessed value, which is significantly below area averages.

The primary appeal lies in its position as an entry-point property in the Munroe East neighbourhood. It suits buyers seeking a lower-cost foothold in the area, potentially including investors, first-time buyers comfortable with a renovation project, or those prioritizing land value over the existing structure. A less obvious perspective is that its lower assessed value could translate to correspondingly lower property taxes, which is a meaningful long-term savings. The lot size also offers potential for expansion or outdoor space that the house itself does not provide.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average for comparable homes?
The assessed value is based on the property's specific attributes, primarily its smaller living area and older age. It is assessed in line with similar smaller, older homes, not the broader market of larger, newer properties.

2. What does the "rank" and "top X%" information mean for each category?
These rankings compare this property against similar homes on its street, in Munroe East, and across Winnipeg. For example, a "Top 93%" rank for Living Area means its square footage is in the bottom 7% of the comparison group—it is smaller than 93% of the peers in that category.

3. Has this house been sold recently?
Yes, according to available data, it sold between 2017 and 2025. The exact sale price is not publicly listed, but the provided range suggests a sale occurred, giving a recent market reference point.

4. What are the implications of the house being built in 1925?
As a century-old home, buyers should budget for potential updates to major systems like wiring, plumbing, and insulation. It may also possess character details not found in newer builds, but a thorough inspection is essential.

5. The lot size is noted as "around average" for the street. Is that an advantage?
Yes. While the house itself is smaller than most, the lot is consistent with others on Munroe Avenue. This provides a balanced outdoor space and could be a key asset for future expansion or landscaping, offering value that isn't apparent from the living area alone.