Property Overview: 450 Meadowood Drive, Winnipeg
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1974, presents a compelling case for value-focused buyers. Its primary appeal lies in offering above-average interior space for its immediate area at a below-average assessed value. On Meadowood Drive itself, the home ranks in the top 1% for living area, providing more room than most neighbours. The lot size is also generous for the street. However, when viewed against the wider Meadowood neighbourhood and Winnipeg overall, its assessed value is notably low, ranking in the bottom quartile. This creates an opportunity for buyers seeking a spacious home in an established neighbourhood without a premium price tag.
The property would suit practical buyers, such as first-time homeowners or downsizers, who prioritize interior space and a manageable lot over a new build or a city-wide "average" sized yard. It’s a home for someone who sees value in a well-located, older character property that may benefit from updates, rather than a move-in-ready showcase. A thoughtful perspective is that its lower assessment could suggest a more manageable property tax burden, while its older vintage offers the potential for customization to a new owner's taste.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value for tax purposes doesn't equate directly to market value. This lower assessment likely reflects the home's age, specific condition, and features compared to the broader Winnipeg market, and may result in relatively lower property taxes.
2. How does the living area compare to nearby homes?
Very favourably. Within its immediate area on Meadowood Drive, this home is in the top 1% for living space, meaning it offers more interior square footage than most of its closest neighbours.
3. What does the sold price history indicate?
The home sold between $300,000 and $350,000 in 2024. This placed it in the top 18% of sales on its street, suggesting buyers were willing to pay a market premium over its assessed value, likely due to its size and location.
4. Is the lot size a drawback?
It depends on your priorities. The 4,048 sqft lot is above average for Meadowood Drive but below average for the broader Meadowood neighbourhood. It offers a decent yard without the maintenance of a larger plot, which could be an advantage.
5. How can I find out the exact past sold price?
The exact sale price is not publicly posted. You can request it directly via the email button on the listing page. The service provides the accurate figure manually and does not use your email for marketing.