425 Meadowood Drive

Property Overview: 425 Meadowood Drive

Section 1: Key Characteristics & Appeal

This 1972-built home in Meadowood presents a distinct value profile centered on its generous lot. At 5,455 sqft, the property offers one of the larger parcels on Meadowood Drive, ranking within the top 20% locally for land area. This is a notable asset for buyers interested in outdoor space, gardening, or future expansion potential. The living space (892 sqft) is modest and below average for the area, suggesting a home better suited for a first-time buyer, downsizer, or investor. Its most recent sold price (2023, $250k-$300k) and current assessed value ($32,700) are positioned above average for its immediate street but below the broader neighbourhood average, indicating it may be priced accessibly within its micro-location.

The appeal lies in this balance: a smaller, likely more maintainable home on a larger-than-typical lot for the street. It suits practical buyers who prioritize land size over interior square footage, and who see value in a established, mature neighbourhood. A thoughtful perspective is that while the home itself is older and smaller than many in Winnipeg, its standout lot size offers a relative scarcity that doesn’t always reflect in the assessed value, potentially presenting a land-value opportunity.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value ($32,700) is for municipal tax purposes. The market value, reflected in the 2023 sale price of $250k-$300k, is determined by recent buyer demand and can be significantly different.

2. How does the lot size compare meaningfully?
The 5,455 sqft lot is substantially larger than the street average (~3,753 sqft). This means more private outdoor space and potentially fewer neighbour sightlines than is typical for the immediate area.

3. The home is below average in size for the area. What does that imply?
It typically suggests a simpler, more efficient layout with lower utility costs. Buyers should be prepared for cozy living spaces and prioritize a functional floor plan over spaciousness.

4. Why is the sold price range from 2023 provided instead of an exact figure?
Exact sale prices in Manitoba are not publicly disclosed online. The range is estimated from public data. The exact price can be requested directly from the listing service.

5. The home is over 50 years old. What should I consider?
While the neighbourhood is well-established, the specific condition of major aging components (like roof, windows, plumbing, and electrical systems) will be crucial. A thorough inspection is highly recommended to understand any needed updates or maintenance.