106 Meadow Lake Drive

Property Overview: 106 Meadow Lake Drive

Key Characteristics & Appeal

This home at 106 Meadow Lake Drive in the Meadows neighbourhood presents a practical and straightforward opportunity. Built in 1984, its 1,062 square feet of living space and 5,255 square foot lot are comfortably in line with averages for its immediate street and area, offering a manageable scale for upkeep. The data reveals a notable point: the home’s assessed value is consistently below average for both the street and the wider Meadows area, which can signal different things. For some, it may suggest room for modernization, while for others, it represents a potentially lower property tax base and an accessible entry point into the market.

Its appeal lies in its established neighbourhood setting and its role as a functional, no-frills property. Recent sale history indicates steady market activity. This home would best suit first-time buyers or practical downsizers who value a straightforward layout and lot size, and who are comfortable with a home that may benefit from personal updates. It’s a property for those who see potential in a solid foundation rather than a turn-key finish.

Frequently Asked Questions

1. Why is the assessed value below the neighbourhood average?
A below-average assessment can stem from various factors, including the home’s specific condition, features, or updates relative to neighbours. It often results in a lower property tax bill, which can be an advantage, but it’s wise to view the home in person to understand the specific reasons.

2. How does the living space compare to nearby homes?
At 1,062 sqft, the living area is slightly below the average for Meadow Lake Drive (~1,137 sqft) but is reasonably aligned with typical homes in the broader Meadows area. It suggests a compact, efficient layout rather than an expansive one.

3. What does the recent sale history indicate?
The home sold in both 2023 and 2024. This frequent turnover isn’t inherently negative but warrants asking about the context. It could indicate investor activity, quick renovations, or simply changing owner circumstances.

4. Is the lot size a good fit for a family?
The lot of over 5,000 sqft is very typical for the area and provides a good balance of outdoor space without being overly burdensome to maintain. It’s suitable for a garden, play area, or simple landscaping.

5. As a home from the 1980s, what should I be mindful of?
While the major systems may have been updated over the last 40 years, a focused inspection for era-specific items like original roofing, windows, plumbing, and electrical components is advisable to understand any upcoming maintenance.