Property Overview
51 Lynn Lake Drive presents a compelling opportunity in Winnipeg's Meadows neighbourhood. Its standout feature is the generous 7,305 sqft lot, which ranks in the top 4% on its own street and the top 9% within the broader Meadows area. This offers significant outdoor space that is increasingly rare. Built in 1984, the home itself is of average size for the area at 1,060 sqft, but its assessed value of $45,700 is notably high, ranking first on Lynn Lake Drive. This suggests the property is viewed as a premium asset on its block, likely due to its substantial land holding.
The appeal lies in this land-value proposition. It suits a buyer who prioritizes yard space for gardening, recreation, or future expansion over a large existing footprint. It’s also a sensible fit for those who value a stable, established neighbourhood, as the home’s age is typical for Meadows. A less obvious perspective is that the high assessment relative to immediate neighbours could indicate either a superior condition or features not fully captured in the square footage, but it also means property taxes will be at a higher rate. This home would best suit a first-time buyer or downsizer looking for a manageable house with a premium lot, or an investor/long-term holder who understands value is often anchored in the land.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value is in the top 1% on its street. This is primarily driven by its significantly larger lot size. Property assessments consider land value heavily, so this premium parcel commands a higher valuation.
2. Is the house too small for the lot?
At 1,060 sqft on a 7,305 sqft lot, the house-to-land ratio is lower than average for the area. Some may see this as the living space being modest for the property size, while others will view it as a major benefit, offering ample room for decks, gardens, or potential future additions.
3. What does the age of the home (1984) mean for maintenance?
Being 42 years old, this home is in the middle of the pack for its neighbourhood. Buyers should budget for updates common to homes of this era, such as roofing, windows, or major mechanical systems, while acknowledging that the core structure has proven durable.
4. How does this property compare to others in Winnipeg overall?
City-wide, its lot size remains above average (top 15%), while its living area is slightly below the city average. Its assessed value ranks above average city-wide, but it's important to note the "city-wide average" value quoted includes a very wide range of property types and locations.
5. How can I find out what this home previously sold for?
No public sales history is displayed for this listing. You can request the exact sold price history by email via the button on the property page; the service provides this information manually at no cost and without marketing spam.