Property Overview: 261 Wales Avenue, Meadowood, Winnipeg
Key Characteristics & Appeal
This 1973 one-storey home sits on a generous 5,194 sqft lot in the established Meadowood neighbourhood. Its key features include a renovated basement and a detached garage. The appeal of this property lies in its balance of space and value. The lot size is notably above average for the street and area, offering room for gardening, play, or expansion. While the 896 sqft living area is compact, the renovated basement provides crucial additional functional space, effectively increasing the home's usable square footage without a premium price tag.
This home would suit first-time buyers seeking an entry point into a stable neighbourhood with room to grow, or practical downsizers looking for single-level living with a manageable yard and updated elements. It also presents a solid opportunity for value-conscious investors or buyers who prioritize land size over a large interior footprint, seeing potential in the lot itself. The property’s assessed value is firmly mid-range for the area, suggesting a purchase price that reflects its condition and size without the premium of a fully modernized or expanded home.
Frequently Asked Questions
1. How does the lot size compare to others nearby?
The 5,194 sqft lot is a standout feature, ranking in the top 31% on Wales Avenue and the top 40% in the wider Meadowood neighbourhood. It is significantly larger than many nearby properties.
2. What does the "renovated basement" typically mean for a home of this era?
In a 1973 home, a renovated basement often means updated finishes and a converted space for living or utility, but buyers should verify the scope of work, permits, and the condition of foundational elements like plumbing and electrical.
3. Is the living space sufficient for a small family?
At 896 sqft above grade, the main floor is compact. Suitability depends on layout and the family's needs. The renovated basement is key, as it likely provides essential extra space for a family room, office, or additional bedrooms.
4. How does the assessed value relate to the likely selling price?
The assessed value of $37,100 is for municipal tax purposes. The selling price is market-driven and can be higher or lower, but it provides a benchmark. Comparable nearby listings have assessed values ranging from roughly $30k to $48k.
5. What is the neighbourhood character of Meadowood?
Meadowood is a mature, established area with homes primarily from the 1970s and 80s. The property rankings indicate a mix of lot and home sizes, suggesting a varied, unpretentious streetscape without extreme highs or lows in property scale.