Property Overview: 331 Meadowood Drive
Section 1: Key Characteristics & Appeal
This home at 331 Meadowood Drive is a compact, efficiently sized property built in 1974. Its primary characteristic is its modest scale: with 720 sqft of living space and a 3,148 sqft lot, it is notably smaller than most homes in the wider Meadowood area and Winnipeg overall. This is reflected in its below-average assessed value for the city, which sits at $28,500.
The appeal lies in its position as an accessible entry point into the established Meadowood neighbourhood. For its street, the home’s assessed value and lot size are around average, and it is actually newer than most houses on Meadowood Drive. This suggests a well-kept, lower-maintenance option on a street of similar properties. The low property tax burden, inferred from the assessed value, is a significant practical advantage.
This property would best suit first-time buyers, downsizers, or investors seeking a straightforward, affordable holding in a mature neighbourhood. It’s for those who prioritize location and financial efficiency over space, and who see the potential in a smaller, manageable footprint. A thoughtful perspective is that this home represents a "value anchor" on its block—it offers the neighbourhood benefits without the premium for size, which can be ideal for someone looking to build equity gradually or minimize ongoing costs.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is primarily based on the home's relatively small size (both living area and lot) compared to the Winnipeg average. It is more in line with values on its immediate street and is typical for a home of this scale in the area.
2. What does it mean that the home is "newer" than most on its street?
Built in 1974, this house is among the top 7% newest on Meadowood Drive. This can imply potentially fewer major age-related issues (like outdated wiring or plumbing) compared to older neighbours, which is a less obvious but valuable consideration.
3. How accurate are the sold price ranges shown?
The sold price ranges are estimates based on public data. To obtain the exact historical sale price, you must request it via the provided email service, which manually confirms the figure.
4. Is the small lot size a disadvantage?
While the lot is below average for the broader area, it is near the median for Meadowood Drive itself. This typically means lower yard maintenance and can be a benefit for those not seeking extensive outdoor space. It's consistent with the home's overall theme of efficiency.
5. Who would this property not be suitable for?
It would likely not suit growing families needing multiple bedrooms and more living space, or buyers who prioritize large private yards, extensive renovation projects, or a home at the upper end of area comparables. The data clearly shows it is one of the smaller properties available.