Property Overview: 31 Homewood Drive, Meadowood, Winnipeg
Section 1: Key Characteristics & Appeal
This 1976-built home in Meadowood presents a compelling mix of space and value. With 1,053 sqft of living area, the house itself is modest in size compared to others on its street but is typical for the wider neighbourhood. Its true standout feature is the generous 6,848 sqft lot, which ranks well above average for both the street and the area, offering significant outdoor space and potential.
The home’s assessed value of $410,000 positions it as an above-average property within Meadowood, suggesting it is a solid asset in its immediate community. This creates an interesting dynamic: you're investing in a home with a strong lot size and neighbourhood value, but the living space may require efficient use or future modernization to suit contemporary needs.
This property would suit practical buyers who prioritize land over square footage, such as young families seeking room for children to play, gardeners, or those envisioning a future addition. It’s also a sensible entry point into a stable neighbourhood for first-time buyers or investors comfortable with a home from the 1970s that may benefit from updates.
Section 2: Frequently Asked Questions
1. How does the home’s value compare to recent sales?
The home last sold between $300,000 and $350,000 in 2019. Its current assessed value of $410,000 reflects market appreciation and its strong standing within the Meadowood area.
2. Is the living space too small for the neighbourhood?
While the living area is below the average for Homewood Drive itself, it is very close to the average for all of Meadowood. The trade-off is a larger-than-average lot, which may be a preferable allocation of space for many buyers.
3. What does the above-average lot size mean for me?
A lot size ranking in the top 20% locally provides excellent outdoor space for recreation, gardening, or storage. It also offers greater flexibility for future projects like a deck, shed, or even an expansion, subject to local bylaws.
4. As a 50-year-old home, what should I consider?
Built in 1976, the home is of a typical age for the area. Buyers should budget for potential updates to major systems like roofing, windows, plumbing, or electrical, and consider the style and condition of interior finishes during their inspection.
5. How can I get the exact historical sold prices?
The exact sold prices are not published publicly. You can request the precise history by emailing via the provided form on the listing page. This service is manual but provided without obligation or marketing spam.