Property Overview
This 809 sqft bungalow at 301 Meadowood Drive, built in 1974, presents a specific and practical value proposition. Its key characteristic is its modest scale, with a living area consistently ranking in the bottom 10-17% compared to homes on its street, in the wider Meadowood area, and across Winnipeg. This results in a correspondingly low assessed value, which is notably below area and city averages. The lot size of 3,177 sqft is also more compact than most in the neighbourhood. However, its construction year is among the newest on its street, suggesting potentially fewer age-related issues than immediate neighbours.
The appeal lies in its efficiency and affordability. It suits first-time buyers seeking an entry point into the market, downsizers looking to reduce space and maintenance, or investors interested in a rental property with a lower tax assessment basis. A less obvious perspective is that a home of this size and vintage on a manageable lot offers a simpler, more sustainable footprint with lower utility costs and upkeep demands, which can be a deliberate lifestyle choice rather than just a budgetary one.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is closely tied to the home's relatively small living area and compact lot size compared to the broader Winnipeg housing stock. It is more in line with values on its own street.
2. How does the sold price history from 2016 relate to today's value?
The previous sale in the $200k-$250k range provides a historical benchmark, but market conditions, property updates, and inflation over the past nine years mean current value would be determined by a fresh appraisal and recent comparable sales.
3. What does it mean that the year built is "above average" for the street?
Built in 1974, this home is newer than most on Meadowood Drive. This could imply that major components like the roof, foundation, or wiring might be in relatively better condition than those in older neighbouring houses, though individual inspections are essential.
4. Is the small lot size a disadvantage?
It depends on your priorities. While it offers less private outdoor space than many area homes, it also means significantly less yard work and lower exterior maintenance costs, which can be a advantage for those seeking a low-maintenance property.
5. How can I get the exact historical sold price?
The exact sold price is not publicly listed in detail. As noted on the listing, you can request it by email; the service provider will manually retrieve and send the accurate figure, typically by the end of the same business day.