Property Overview: 218 Greenwood Avenue, Meadowood, Winnipeg
Key Characteristics & Appeal
This 1,262 sqft bungalow, built in 1976, presents a solid opportunity in Winnipeg's Meadowood neighbourhood. Its primary appeal lies in its strong relative value and above-average lot size. With an assessed value of $41,900, it ranks in the top 16% of Meadowood, suggesting the municipal assessment is favourable compared to many area homes. The 5,913 sqft lot is notably larger than most on its street and in the immediate area, offering good outdoor space potential.
The home’s living area is comfortably above the neighbourhood average, providing decent space for its category. A thoughtful perspective is that a 1976 build is newer than many homes on Greenwood Avenue, potentially meaning updates to major systems (like electrical or plumbing) may have already been incorporated over the years, compared to much older stock.
This property would suit practical buyers looking for a land-value proposition in a stable area. It’s ideal for someone comfortable with a home that may require personalization or updates but who values a larger lot and a structurally younger home in the context of its street. It could also appeal to value-focused investors, given its assessed value standing.
Frequently Asked Questions
1. What does the assessed value ranking actually mean?
The home’s assessed value is higher than 84% of homes on its street and 84% in Meadowood, according to the data. This doesn't dictate market price, but it indicates that, for property tax purposes, this home is assessed more highly than most comparable local properties, which can sometimes reflect perceived value or improvements.
2. How does the 1976 build year compare?
While around average for the city and Meadowood, this home is newer than over 90% of the homes on Greenwood Avenue itself. This suggests the street has a mix of older and newer homes, with this property being one of the more recent builds.
3. The last sale was between $400k-$450k in 2021. Why is the assessed value so different?
Assessed value for property taxes is not the same as market value. The significant difference highlights the importance of getting a current market evaluation, as sale prices and tax assessments can diverge based on market conditions and assessment formulas.
4. What is the potential downside of a larger lot?
While a plus for space, a lot that is larger than the area average (5,913 sqft vs. a 4,805 sqft street average) may come with proportionally higher maintenance, landscaping costs, and potentially higher municipal service charges.
5. How can I get the exact historical sale price?
The exact sale price is not publicly listed in detail. As noted, you can request it by email from the source; they provide the precise figure manually as a service without using your email for marketing.