Property Overview: 514 Neil Avenue, Winnipeg

Key Characteristics & Appeal

This home presents a compelling mix of space, value, and location within Winnipeg's Munroe West neighborhood. Its primary appeal lies in its generous, above-average lot size of nearly 8,000 sqft—a standout feature that ranks in the top 2% of the local area. This offers significant outdoor potential that is increasingly rare. Built in 1955, the house is notably newer than most on its street and in the immediate area, which can suggest updated infrastructure or fewer concerns associated with much older construction.

With 976 sqft of living space, the interior size is very typical for Munroe West but sits below the city-wide average, indicating a home that is efficiently sized rather than sprawling. Its assessed value of $349,000 is well above the area average, positioning it as a premium property within its immediate community while aligning closely with the city's typical valuation. This profile suggests you are paying for the desirable lot and location more than for square footage.

This property would best suit a buyer who prioritizes outdoor space—for gardening, recreation, or future expansion—over a large interior. It's ideal for someone seeking a well-positioned home in a established neighborhood, who values the character and relative modernity of a mid-century property, and who sees the premium lot as a long-term asset.

Frequently Asked Questions

1. How does the assessed value relate to likely market price?
While the assessed value of $349k is a strong indicator for municipal tax purposes, market price is determined by current conditions. Its "Elite" ranking locally suggests it is a higher-value home for the area, which can influence listing price and buyer interest.

2. What are the implications of the lot size being in the top 2% for the area?
This significant lot offers more privacy, yard space, and potential for additions like a garage, workshop, or garden than nearly all neighboring properties. It also typically contributes substantially to the property's overall value and appeal.

3. The home is newer than most nearby, but what should I check given it's still 70 years old?
While newer than many area homes (built 1955 vs. an area average of ~1945), a home of this age still requires a thorough inspection. Focus on the condition of major systems like plumbing, electrical, and the foundation, which may have been updated over time but could still contain original components.

4. The living area is below the city average. Does that mean the house feels small?
At 976 sqft, it is smaller than the average Winnipeg home. However, it is very close to the Munroe West average (958 sqft), meaning it is typical and likely functional for the neighborhood. The appeal here is balanced toward the lot size rather than interior square footage.

5. Can I see the exact historical sale prices?
The provided data shows a past sale between $300k-$350k in 2020. For fully verified and exact sale figures, you must request a manual lookup via email, as this site does not display proprietary MLS transaction records.