Property Overview: 30 Willowmeade Crescent, Winnipeg
Key Characteristics & Appeal
This home at 30 Willowmeade Crescent in Meadowood is a compact, single-level property built in 1975. Its key characteristic is its modest 732 sqft living area, which is notably smaller than most homes on its street and in the wider city. This positions it as an affordable entry point into a mature neighbourhood. The lot size is a standard 5,087 sqft, providing decent outdoor space relative to the home's footprint.
The appeal lies in its value and simplicity. With an assessed value significantly below the citywide average, it offers a low barrier to entry for homeownership. Its age is a standout feature on its specific street, ranking among the newest builds there, which may suggest fewer immediate concerns about aging infrastructure compared to neighbours. The sale history indicates steady appreciation, last selling in the $350k-$400k range in 2022.
This property would best suit first-time buyers, downsizers, or investors seeking a straightforward, low-maintenance asset. It’s for those who prioritize financial accessibility and a established neighbourhood over square footage. A thoughtful perspective is that the smaller interior could mean lower utility and maintenance costs, and the lot offers potential for future expansion or garden space that the current home doesn't utilize.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
This is a compact, likely bungalow-style home built in the 1970s. It represents a more modest housing style common at the time, offering essential living space without excess square footage, which is reflected in its accessible price point.
2. How does the assessed value compare to likely market value?
The assessed value for tax purposes is $35,700, which is below average for the street. However, the home last sold for an estimated $350k-$400k in 2022, indicating market value is significantly higher. Assessment values are not a direct measure of current market price.
3. What does it mean that it's the "newest" home on the street?
Built in 1975, it ranks in the top 2% for year built on Willowmeade Crescent. This means most houses on the street are older. For a buyer, this could imply relatively newer major components like roofing, plumbing, or electrical systems compared to the neighbourhood norm.
4. Is there room to expand the house?
The 5,087 sqft lot is a standard size for the area. Given the home's small footprint, there is likely physical space for an addition, subject to local zoning bylaws and setback requirements. This could be a long-term value-add for a buyer.
5. How stable has the property's value been?
Based on available data, it sold in the $250k-$300k range in 2016 and the $350k-$400k range in 2022, suggesting a pattern of appreciation over that six-year period, consistent with broader market trends.