Property Overview
431 Woodydell Avenue is a 733 sqft bungalow built in 1973, situated on a 5,197 sqft lot in Winnipeg's Meadowood neighbourhood. With an assessed value of $360,000, it presents a specific value proposition defined by its compact size and established location.
Key Characteristics & Appeal
The primary characteristic of this home is its modest scale. At 733 sqft, its living area is notably smaller than most comparable homes on its street, in Meadowood, and across Winnipeg. This creates a distinct profile: the assessed value is competitive and around the average for the area, suggesting the value is anchored more in its lot and location than in its interior square footage.
Its appeal lies in this efficiency. It suits a buyer seeking a manageable, low-maintenance property without a premium price tag, potentially a first-time homeowner, downsizer, or investor. The lot size is fairly typical for the area, offering standard outdoor space. A thoughtful perspective is that a home of this size and era may present a simpler renovation project if updates are desired, with costs easier to forecast than for a larger, more complex layout. Its recent sale in 2022 within the $350k-$400k range indicates stable market acceptance.
Frequently Asked Questions
1. Is the house unusually small?
Yes. The living area is significantly below average, ranking in the bottom 3-5% compared to nearby homes and city-wide averages. This is the home's most defining physical trait.
2. Does the lower square footage mean it's a bargain?
Not necessarily. The assessed value is around the local average, indicating the market prices it considering the full package: lot size, location, and the usable living space. The value is relative to a buyer's need for space versus land.
3. What type of buyer would this home suit best?
It would suit those prioritizing affordability and manageable upkeep in an established neighbourhood. This includes first-time buyers comfortable with a cozy layout, empty-nesters downsizing, or an investor looking for a straightforward rental property.
4. How does the lot size compare?
The lot is approximately 5,200 sqft, which is standard and unremarkable for the area—neither particularly large nor small. It aligns with the typical footprint of the neighbourhood.
5. What does the sale history tell us?
It sold between $350,000 and $400,000 in 2022, and between $300,000 and $350,000 in 2017. This shows consistent value appreciation in line with market trends, with no extreme fluctuations, suggesting steady demand for this property type.