Property Overview: 457 Lyndale Drive, Norwood West
This 1,404 sqft home, built in 1941 on a 6,236 sqft lot, presents a compelling blend of established neighbourhood character and above-average value proposition. Its assessed value of $585k sits comfortably above the averages for both the wider Norwood West area and the city of Winnipeg, suggesting a perception of desirability and investment in the property or its location. The lot size is notably generous for the neighbourhood, ranking in the top 11%, offering valuable outdoor space that is increasingly rare in mature communities.
The appeal lies in its position within a well-established area, offering more land than typical for the zone—a significant advantage for gardening, recreation, or future expansion. While the living area is modest compared to some immediate neighbours, it is squarely average city-wide, indicating a manageable, efficient footprint. The home suits buyers seeking a character property in a central neighbourhood who prioritize lot size over a large interior, and who appreciate a home that holds a strong assessed value relative to the broader market. It may also attract those looking for a property with "good bones" and potential, where the value is anchored in the land and location as much as the existing structure.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home sold between $650k-$700k in September 2022. The current $585k assessed value is below that sale range, which is not uncommon as municipal assessments can lag behind market fluctuations. It indicates the city’s valuation for tax purposes, not necessarily the current market price.
2. Is the house older than others on the street?
Yes. Built in 1941, it is older than the average home on Lyndale Drive, ranking in the top 80% (meaning 80% of comparable street properties are newer). This is typical for the Norwood West area overall but suggests buyers should budget for maintenance appropriate to an 85-year-old home.
3. What does the lot size ranking mean for me?
Ranking in the top 11% for land area in Norwood West is a standout feature. Your lot (6,236 sqft) is significantly larger than the area average (~5,601 sqft), providing more private outdoor space than most properties in this sought-after neighbourhood.
4. The living area seems smaller than some neighbours. Is it a concern?
The living space (1,404 sqft) is slightly below the street average but aligns with the city-wide average. This indicates the home is efficiently sized for many buyers. The trade-off is the larger lot, which can sometimes offer expansion potential not available on smaller, more built-up properties.
5. How can I get the exact historical sale price?
The site provides sold price ranges for non-members. Due to industry regulations, exact sale figures require a manual lookup. You can request this information via email through the site, and they will provide the verified transaction history directly.