Property Overview: 341 Meadowood Drive, Winnipeg
Key Characteristics & Appeal
This 880 sqft bungalow, built in 1974, presents a practical and affordable entry point into Winnipeg’s Meadowood neighbourhood. Its key appeal lies in its relative value and manageable scale. While the living space is notably compact compared to area and city averages, this translates to a lower assessed value, positioning it as one of the more accessible homes on its street and within the wider community. The lot size is also modest, suggesting lower maintenance.
The home’s strongest characteristic is its age ranking on Meadowood Drive—it’s newer than most of its immediate neighbours. For a buyer, this could imply potentially fewer major age-related issues compared to other houses on the block. This property would best suit first-time buyers, downsizers, or investors seeking a straightforward, lower-maintenance holding. Its value is functional rather than luxurious, offering a foothold in a stable area without the premium of a larger, updated home.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (28.50k) is for municipal tax purposes and is typically much lower than the expected market sale price, as evidenced by the 2016 sale in the 250k-300k range. Market value is determined by current supply, demand, and condition.
2. How does the smaller living area impact daily living?
The 880 sqft layout requires efficient use of space. It’s well-suited for 1-2 people but may feel cramped for a growing family. The trade-off is often lower utility costs and less to clean and maintain.
3. What does it mean that the home is "newer" than most on the street?
Built in 1974, it ranks in the top 7% for age on its street. In practical terms, this could mean original major components (like roofing, wiring, or plumbing) might have more remaining lifespan than those in older neighbouring homes, though a specific inspection is essential.
4. Why is the city-wide average assessed value so much higher (390k)?
That average includes all property types and sizes across Winnipeg. This home’s assessed value is below average because it is a compact bungalow on a modest lot. The comparison highlights this property’s position as a more affordable option in the broader market.
5. How can I find out the exact past sale prices?
The exact sold prices are not publicly displayed in detail. As noted on the listing, you can request the precise historical sale data by emailing the provided service, which manually retrieves and shares that information.