Property Overview: 550 Neil Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 976 sqft bungalow, built in 1955, sits on a 6,141 sqft lot in the Munroe West neighbourhood. Its key characteristic is a compelling mix of context and potential. While the living space is modest compared to many city homes, it is quite typical and functional for the immediate area. The standout feature is the lot size, which is notably larger than most in Munroe West and above the Winnipeg average, offering valuable outdoor space or future expansion potential in a mature neighbourhood.

The appeal lies in its position as a relative "newcomer" on a street of older homes—it's one of the most recently built houses on Neil Avenue—which may suggest updates or different construction than its neighbours. With an assessed value of $291,000, it presents as a more accessible entry point into the area compared to pricier city-wide averages. This property would suit first-time buyers or downsizers seeking a manageable home with a generous yard in an established community. It’s also a candidate for value-conscious buyers who see potential in the land or are willing to update a solid, post-war home.

Section 2: Frequently Asked Questions

1. How does this home’s value compare to the area?
The assessed value is around the average for Munroe West but is below the average for both its specific street and the city overall. This suggests it may offer relative value within a desirable local context.

2. Is the house unusually small?
At 976 sqft, it is slightly above the average living area for Munroe West but below the Winnipeg average. It is a comfortably sized bungalow for the neighbourhood, typical of many mid-century designs.

3. What does the "Elite" ranking for Year Built mean?
This indicates the home, built in 1955, is one of the newest on Neil Avenue, where most homes are older. This could mean newer systems, materials, or a different layout compared to its neighbours, but a professional inspection is still essential.

4. The lot is ranked low on the street but high in the area. Why?
This highlights an important perspective: while the lot is smaller than others on Neil Avenue, it is actually larger than most lots in the broader Munroe West neighbourhood. You're getting a better-than-average yard for the community.

5. Where can I get verified sale history for this property?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the exact sale history by emailing the site directly for a manual lookup, as they do not source data from the MLS.