Property Overview: 421 Meadowood Drive
Key Characteristics & Appeal
This 1972 bungalow at 421 Meadowood Drive presents a practical opportunity in Winnipeg’s Meadowood neighbourhood. With 916 sqft of living space, the home is modestly sized but efficiently laid out, sitting on a notably generous 5,455 sqft lot for its street—one of the larger parcels in the immediate area. This combination creates a distinct value proposition: a home with below-average interior space for the wider area, but above-average outdoor potential on its block.
The appeal lies in this balance and its established location. The assessed value of $310k positions it as a more premium offering on Meadowood Drive itself, yet it remains around the city-wide average, suggesting a solid baseline of value. It would suit a first-time buyer or downsizer who prioritizes a larger yard for gardening, pets, or future expansion over a sprawling floor plan. It’s also a sensible fit for a value-conscious buyer looking for a home in a mature neighbourhood without the premium often attached to newer builds, as the 1972 construction date is among the older on the street.
A thoughtful perspective is that this property may represent a "land-value play" within its micro-market. The lot size is a standout feature locally, which could appeal to those viewing the property as a long-term home with room to grow or as a future redevelopment site in an established community.
Frequently Asked Questions
1. How does the home’s size compare to others?
At 916 sqft, the living area is slightly below the average for similar homes on Meadowood Drive (964 sqft) and more notably below the averages for the broader Meadowood area and the city overall. This indicates a compact, efficient layout.
2. Is the assessed value high for the area?
The $310k assessment is above average for Meadowood Drive but below average for the wider Meadowood neighbourhood. City-wide, it is around the average. This suggests you are paying a premium relative to the immediate street, potentially for the larger lot, but not out of line with the broader market.
3. What is the significance of the lot size?
The 5,455 sqft lot is a key feature. It ranks in the top 20% on Meadowood Drive, meaning it’s substantially larger than most direct neighbours. This offers more private outdoor space than is typical for the street.
4. The home was built in 1972. Is that a concern?
The 1972 build date makes it older than most homes on its street and in the Meadowood area. Prospective buyers should budget for potential updates to major aging components like the roof, windows, or mechanical systems, which is common for homes of this vintage.
5. Where can I see more detailed comparisons?
You can open the neighbourhood analysis page to view this property on a map alongside nearby houses, comparing year built, living area, assessed value, and lot size in detail. For the exact historical sold price, you can request it via email from the listing provider.