Property Overview
This home at 243 Hazelwood Avenue in Meadowood presents a compelling opportunity in Winnipeg’s residential market. Built in 1975, it offers 1,120 square feet of living space on a 5,197 sqft lot. The standout feature is its assessed value of $42,700, which ranks in the top 3% on its street and the top 14% in the broader Meadowood area, indicating a strong valuation relative to its immediate neighbours. The living space is also above average for Hazelwood Avenue, ranking in the top 16%. The lot size and year of construction are consistent with area norms.
The appeal lies in its position as a value-oriented property within a well-established neighbourhood. It’s not the largest home, but it holds a premium assessment on its street, which can be a sign of good condition, desirable location on the block, or favourable improvements. This suits first-time buyers seeking an entry into a stable community, or value-focused investors looking for a property with a solid assessment foundation. It’s a practical choice for those who prioritize neighbourhood equity over sheer size, as it outperforms many nearby homes in key financial metrics.
Frequently Asked Questions
1. Why is the assessed value so high compared to other homes on the street?
An assessment in the top 3% on the street often reflects factors like recent updates, a premium lot location, or overall condition that the city assessor has valued above others. It suggests the property is considered one of the most valuable on Hazelwood Avenue.
2. How does the living space compare to a typical home?
At 1,120 sqft, it is above average for its own street but closer to the average for the wider Meadowood area. This indicates a comfortable size that is well-suited to the neighbourhood, neither exceptionally large nor small.
3. What does the sold price history indicate?
The home sold between $300,000 and $350,000 in 2019. This historical price, combined with its current high assessed value for the area, suggests a history of being valued strongly in the market.
4. Is the lot size a pro or a con?
At just over 5,000 sqft, the lot is average for the area. It provides standard outdoor space for a home of this era without being a standout feature for extra development or requiring excessive maintenance.
5. Who would this property not suit?
Buyers seeking a very modern home or the largest lot on the block may find it average in those respects. Its strengths are in value and positioning within the immediate locale, rather than in standout size or newness.