Property Overview: 53 Meadow Lake Drive
Key Characteristics & Appeal
This home at 53 Meadow Lake Drive is a practical, entry-level property in Winnipeg's Meadows neighbourhood. Built in 1983, its key characteristic is its compact scale: with 840 sqft of living space and a 4,062 sqft lot, it is notably smaller than most homes on its street, in the area, and across the city. This is reflected in its below-average assessed value for the immediate vicinity.
The primary appeal lies in its affordability and efficiency. It last sold in the $400k-$450k range in 2022, which placed it in the top 15-25% of value for its local market at that time, suggesting a competitive price point for the area. It represents an opportunity for minimal upkeep and lower property taxes relative to larger homes. This property would suit first-time buyers, downsizers, or investors seeking a manageable footprint. A thoughtful perspective is that its smaller size and lot could mean less maintenance time and cost, freeing up resources for travel, hobbies, or savings. It may also appeal to a buyer who values a cosy, efficient layout over expansive square footage.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value (approximately $34,600) is for municipal tax purposes. The market value, what a buyer would pay, is typically higher, as indicated by the 2022 sale price between $400,000 and $450,000.
2. How does the home's size compare to others?
It is compact. At 840 sqft, it is smaller than the average home on Meadow Lake Drive (~1,137 sqft), in the Meadows area (~1,286 sqft), and city-wide (~1,342 sqft).
3. What does the sold price ranking mean?
The 2022 sale price ranked in the top 15-25% when compared to other sales on the same street, in the area, and city-wide at that time. This indicates the property was priced competitively within the broader market, even though its physical attributes are below average for its immediate location.
4. Can I get the exact historical sale price?
The precise sale prices are not publicly displayed. You can request the exact sold price history by emailing via the provided form on the listing page; the service aims to provide the information manually by the end of the same day.
5. What are the implications of a smaller lot?
The 4,062 sqft lot is below average for the street and area. This likely means a smaller yard for gardening or outdoor recreation, but also less landscaping maintenance and potentially lower water usage for lawn care.