Property Overview
466 Meadowood Drive presents a unique profile in the Winnipeg market. Built in 1974, this home stands out for its efficient use of space, offering more living area than most comparable homes on its own street. Its appeal lies in being a well-sized, practical home in an established neighbourhood, positioned at a notably lower assessed value than surrounding areas. This creates a distinct value proposition, particularly for buyers who prioritize interior space over a large yard, as the lot is more compact than average.
This property would suit first-time buyers or downsizers looking for a manageable home without a premium price tag. It’s also a practical option for investors seeking a rental property with a lower tax assessment basis. A thoughtful perspective is that while its metrics are below average in the broader area and city, its strong standing within its immediate street suggests it's a solid, above-average home for that specific, likely more affordable, enclave of Meadowood.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on municipal valuation for tax purposes, which considers many factors including specific property characteristics and neighbourhood benchmarks. Its significantly lower value compared to the city average primarily indicates a more affordable tax base, not necessarily the final market sale price.
2. How does the living area compare to nearby homes?
At 1,080 sqft, the living area is actually larger than the average (964 sqft) for similar homes on Meadowood Drive, ranking in the top 1% on the street. It is competitively sized within the broader Meadowood area as well.
3. What does the sold price history indicate?
The home sold between $250,000 and $300,000 in 2023. This price range placed it around the middle for its street but below the average for the wider Meadowood area, consistent with its overall profile as a value-oriented property.
4. Is the smaller land area a significant drawback?
The lot is 2,699 sqft, which is smaller than most in the neighbourhood and city. This means less exterior maintenance and lower landscaping costs, which can be an advantage for buyers seeking a low-maintenance property, though it offers less private outdoor space.
5. Are the provided comparable listings ("Worth viewing") similar?
The listed comparables, like 457 Meadowood Drive, are useful for seeing alternatives in the same neighbourhood with similar vintage. However, they often have different assessments, living areas, and lot sizes, highlighting that 466 Meadowood Drive offers a specific balance of space and value.