Property Overview: 22 Melonlea Cove, Winnipeg

Section 1: Key Characteristics & Appeal

This 1,076 sqft home, built in 1975, presents a solid, no-fuss opportunity in Winnipeg's River East neighborhood. Its primary appeal lies in its strong positional value within its immediate locale. While the living space is modest compared to the broader neighborhood, the property stands out on its own street with an assessed value significantly above the local average, suggesting it is well-maintained or has desirable features not immediately apparent in the raw data. The lot size is also generous for the street, offering more outdoor space than many direct neighbors.

This home would suit pragmatic, value-conscious buyers—perhaps first-time homeowners or downsizers—who prioritize a stable, established community over brand-new construction. It’s for someone who sees potential in a property that already appears to be a standout on its block, possibly offering a balance of manageable indoor space and usable outdoor area without the premium of a larger lot in the wider area. The data suggests a property that is competitively positioned for its specific micro-location rather than the city at large.

Section 2: Frequently Asked Questions

1. How does the assessed value compare to the likely selling price?
The assessed value of $364k is for municipal tax purposes and is a starting point for valuation. The fact that it ranks highly on its street indicates the city assesses it favorably compared to neighbors, but the final sale price will be determined by current market conditions, the home's interior condition, and buyer demand.

2. Is the living area sufficient for a growing family?
At 1,076 sqft, the living area is functional but below the neighborhood average. It would likely suit a small family, a couple, or someone looking to downsize comfortably. The generous lot for the street could offset this by providing room for additions or outdoor living, subject to permits.

3. What does the sale history from 2016 tell us?
The home sold for between $250k-$300k in March 2016. This historical data provides a benchmark, showing substantial appreciation in assessed value since then. It underscores the importance of getting a current market evaluation to understand today's value.

4. Are the older systems (roof, furnace, etc.) a concern?
Built in 1975, the home is 51 years old. While this is typical for the street and area, a key part of due diligence will be to investigate the age and condition of major components like the roof, windows, plumbing, and electrical systems, as updates or needed repairs will factor into overall value.

5. How does the lot size impact future potential?
The 5,458 sqft lot is above average for Melonlea Cove. This is a distinct advantage, offering more privacy, yard space, and potential for landscaping, gardening, or future expansions like a deck or shed, compared to tighter lots on the same street.