Property Overview: 452 Meadowood Drive, Winnipeg
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1974, presents a compelling mix of above-average interior space and a below-average tax assessment. Its primary appeal lies in this efficient use of square footage; the living area ranks in the top 1% on its own street and is notably larger than many direct neighborhood comparables. This suggests a home that may feel more spacious inside than its unassuming exterior or lot size (4,033 sqft) might imply.
The property’s assessed value of $270,000 is significantly lower than both the city-wide and area averages for similar homes. This creates an interesting value proposition: you acquire a home with generous interior space for the street, while likely benefiting from relatively lower property taxes. The lot, while smaller than the city average, is consistent with others on Meadowood Drive.
This home would suit practical, value-conscious buyers—perhaps first-time homeowners or downsizers—who prioritize living space and tax efficiency over a large yard. It’s for someone who sees the advantage in a home that outperforms its immediate peers in key, usable metrics without a premium price tag.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessment values are based on a mass appraisal system and consider many factors, including recent sales of comparable properties, home features, and location. A lower assessment than the city-wide average often translates to lower annual property taxes, which can be a significant long-term saving.
2. How does the living area rank so highly if the home is average-sized overall?
The rankings are contextual. This home’s living area is elite for its specific street (Meadowood Drive), where comparable homes average just 964 sqft. It becomes average when compared to the broader Meadowood neighborhood and city, indicating the immediate area consists of more compact homes.
3. What does the sale history indicate?
The home sold between $200,000-$250,000 in 2016. This historical price, combined with the current assessed value, provides a benchmark for its market trajectory. The exact sale price is available upon request.
4. Is the smaller lot size a concern?
At 4,033 sqft, the lot is typical for Meadowood Drive but below the neighborhood and city averages. This means smaller outdoor maintenance, which can be an advantage for some, but may limit expansion possibilities. It’s consistent with the community’s character.
5. What are the implications of the home being built in 1974?
Built 52 years ago, this home is newer than most on its street but average for the area. Buyers should budget for updates common to homes of this era, such as windows, roofing, or mechanical systems, while also appreciating the potential for well-established landscaping and a mature neighborhood feel.