Property Overview: 470 Meadowood Drive
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1974, presents a compelling case for value-focused buyers. Its primary appeal lies in its efficient use of space; the living area is notably larger than most similar homes on Meadowood Drive, ranking in the top 1% for the street. This suggests a well-utilized floor plan that maximizes the available square footage.
The property stands out for its significantly below-average assessed value, especially within the broader Meadowood area (top 98%). This combination of above-average interior space for the immediate neighbourhood with a lower property assessment creates a unique value proposition. It may appeal to practical buyers looking for a comfortable living space without a premium price tag, or to those who see potential in a home that the market may currently undervalue. The lot, while smaller than area averages, offers manageable outdoor space with lower maintenance demands.
This home would suit first-time buyers, downsizers seeking a manageable property, or value investors. It’s a grounded choice for someone prioritizing interior space and financial efficiency over a large yard or a newer build, set in a mature, established neighbourhood.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is a municipal valuation for tax purposes and can be influenced by many factors, including specific home condition, updates, and lot characteristics. A value significantly below area averages can sometimes indicate a different assessment approach or property specifics, but it does not directly dictate market selling price.
2. How does the smaller lot size impact living here?
The 2,699 sqft lot is smaller than most in Meadowood and Winnipeg overall. This means less yard maintenance and lower exterior upkeep costs, which can be a benefit. However, it also means limited space for expansions, large gardens, or extensive outdoor recreation.
3. The home sold recently (2024). What does that mean for me?
A recent sale indicates active market interest. The sold price range provides a crucial, real-world benchmark far more current than the assessed value. It suggests the market price aligns more closely with city-wide averages than the lower assessment would imply.
4. Is the 1974 build date a concern?
The year built is typical for the street and area. Homes from this era are common in Winnipeg and are often structurally sound, but a thorough inspection is always recommended to assess the condition of major systems like roof, wiring, plumbing, and windows, which may be nearing or past their typical lifespans.
5. How can I find out the exact price it sold for in 2024?
The provided price is a range based on public data. As noted on the listing, you can request the exact sold price by emailing the site directly. This service is provided without obligation for marketing spam.