693 Munroe Avenue

Property Overview

This two-storey home at 693 Munroe Avenue is a modern residence in Winnipeg's Munroe East neighbourhood. Built in 2022, it offers a move-in-ready condition with the benefit of a new home's major systems and minimal immediate maintenance. Its 1,373 sqft of living space is complemented by a full, unfinished basement, presenting a blank canvas for future expansion. The property stands out on its street with a lot size that ranks in the top 2%, providing above-average outdoor space for the area. A detached garage adds practical storage or parking.

Its appeal lies in its balance of new construction and established community. Buyers avoid the wait and uncertainties of building, yet still secure a contemporary layout and modern efficiencies. The home suits first-time buyers seeking a worry-free start, small families appreciating the newer build and room to grow into the basement, or investors looking for a modern rental property with lower upkeep costs. A thoughtful perspective is its potential as a "strategic hold" in a neighbourhood of older homes; as one of the newest on the block, it may age well relative to its peers, appealing to those who value a relative sense of modernity in a mature area.

Frequently Asked Questions

How does the assessed value relate to the likely selling price?
The assessed value of $36,400 is for municipal tax purposes and is typically much lower than market value. The home last sold for $380,000 in early 2023, which is a more relevant benchmark for current market value.

What does the "unfinished basement" entail?
The basement is fully excavated and included, but its space is unfinished. This means it has raw concrete walls and floors, with plumbing and electrical rough-ins likely in place, offering the next owner a cost-effective opportunity to customize additional living space to their needs.

Is the property significantly newer than others in the area?
Yes. Built in 2022, it is one of the newest homes on its street, ranking in the top 2% by year built. This is a key differentiator in a neighbourhood predominantly featuring homes from the mid-20th century.

How does the lot size compare?
The 2,501 sqft lot is notably larger than most on Munroe Avenue, ranking in the top 2% for the street. This provides more private outdoor space than is typical for the immediate area.

What is the neighbourhood character?
Munroe East is a long-established, residential neighbourhood. The presence of this new build alongside older homes suggests an area in a gradual state of renewal, offering a mix of character and modern convenience.