Property Overview: 331 Castlebury Meadows Drive
Key Characteristics & Buyer Profile
This home, built in 2017, presents a compelling mix of modern convenience and relative value. Its primary appeal lies in its above-average living space (1,533 sq ft) compared to the Winnipeg average, housed within a structure that is notably newer than most city homes—ranking in the top 5% city-wide for year built. This suggests a property with likely fewer immediate maintenance concerns and modern building standards.
However, its value proposition is nuanced. The assessed value ($377k) is significantly below the averages for its immediate street and North Inkster Industrial area, which could indicate a potential value opportunity for a buyer, especially when viewed against the city-wide average where it sits close to the median. A thoughtful perspective is that this lower assessment, while attractive for property taxes, may reflect the home's more compact lot size (2,786 sq ft), which is below average at every comparison level. This creates a specific dynamic: you are acquiring a relatively new, spacious interior on a lower-maintenance yard.
This property would suit a buyer prioritizing a modern, move-in-ready home with generous interior space over extensive outdoor land. It’s a practical fit for small families, professionals, or downsizers who want a newer build without a large yard to manage. The recent sale in early 2025 (in the $450k-$500k range) suggests it sits in an active price bracket, appealing to those seeking a balance between contemporary living and mindful budgeting.
Frequently Asked Questions
1. Is this a good value based on the assessed value?
The assessed value is below the local area averages, which can be attractive for property taxes. However, market value is determined by recent sales, and this home sold for more than its assessment in early 2025, indicating buyer demand for its specific attributes.
2. What does the lot size mean for me?
At 2,786 sq ft, the lot is smaller than most in the neighbourhood and city. This typically means less exterior maintenance but also limited space for expansions, large decks, or extensive landscaping compared to neighbours.
3. How does the living area compare?
The living space is above the Winnipeg average, offering more interior room than many city homes. It is, however, slightly below the average for its specific street and area, so it's spacious in a broad sense but average in its immediate context.
4. The home is listed as "Elite" for year built city-wide. What does that mean?
This indicates the home is newer than approximately 95% of all homes in Winnipeg. For a buyer, this strongly suggests modern construction materials, building codes, and systems, potentially leading to lower near-term repair costs.
5. Why is there a range for the sold price, and how can I get the exact figure?
To comply with industry regulations, exact sold prices are not published publicly on the site. The displayed range is based on available public data. You can request the precise sale history by emailing the site administrators for a manual lookup.