Property Overview & Key Characteristics
This one-storey home at 23 Woodford Bay in Winnipeg's Meadowood neighbourhood presents a practical and well-situated option. Its key appeal lies in a combination of a generous, private lot and a home that has seen foundational updates. The nearly 6,000 sqft lot size is a standout feature, ranking within the top quarter for the street and neighbourhood, offering significant outdoor space relative to many area homes. The basement has been renovated, adding functional living space, and the property includes a detached garage.
The home would suit first-time buyers or downsizers looking for a manageable single-level layout on a low-maintenance lot with room to garden or entertain. It also appeals to value-conscious buyers or investors interested in a property in a stable neighbourhood where the land itself represents a substantial portion of the asset's value. A less obvious perspective is that, while the living area is modest, its lot size ranking significantly higher than its living area ranking suggests a property where the land may offer future potential relative to the home itself. The assessed value is strong for the area, indicating official confidence in the property above many of its immediate peers.
Frequently Asked Questions
1. How does the lot size compare to others nearby?
The 5,998 sqft lot is a key feature, larger than approximately 78% of lots in the Meadowood neighbourhood and 68% on Woodford Bay itself, offering more privacy and yard space than many comparable properties.
2. Has the property been updated recently?
The listing confirms the basement has been renovated. Buyers should inquire about the scope and permits for this work, as well as the age of major systems like roof, HVAC, and windows, to understand immediate maintenance needs.
3. What is the neighbourhood like?
Meadowood is a mature, established neighbourhood. The property's high percentile rankings for lot size and assessed value within the area suggest it is among the more substantial homes on its street and in the immediate vicinity.
4. Why is the assessed value higher than the last sale price?
The home last sold in 2019 for $34,800 and is now assessed at $40,900. This increase reflects market changes, the renovated basement, and the property's strong lot value. It's a positive indicator but not a direct predictor of sale price.
5. Who might this property not suit?
Buyers seeking a modern, open-concept layout or substantial above-ground square footage may find the 960 sqft living area limiting. It's best for those comfortable with a classic one-storey floor plan who prioritize lot size over interior size.