Property Overview
This home at 252 Wales Avenue in Winnipeg's Meadowood neighbourhood presents a practical and affordable entry point into the market. Built in 1973, it sits on a roughly 5,200 sqft lot and offers 946 sqft of living space. Its most recent assessed value is $37,900, and it last sold for an estimated $400k-$450k in 2023. The appeal here is grounded in value and potential. While the living space is modest compared to many area homes, it results in a lower property tax base. The lot size is generous for the street, offering room for gardening, play, or future expansion. This property would suit first-time buyers seeking a manageable starter home, value-conscious investors, or downsizers looking for a single-level dwelling without a large footprint. It’s a home that prioritizes lot over square footage, suggesting its value may lie as much in its outdoor space and location as in its current interior.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ($37,900) is used for calculating municipal property taxes and is typically much lower than the market value, which is what a buyer would pay. The 2023 sale in the $400k-$450k range is a clearer indicator of its market value.
2. How does the size of this home compare to others?
At 946 sqft, the living area is below average for Meadowood, the immediate street, and the city overall. This means the home is more compact, which can mean lower utility costs and less maintenance, but may require creative use of space.
3. What does the sale history tell us?
The property sold recently in 2023. This quick turnaround could indicate an investor flip, an estate sale, or a homeowner’s changed circumstances. Requesting the exact sold price from the site can provide a precise benchmark for current value.
4. Is the lot size a positive feature?
Yes. The lot is over 5,000 sqft, which is above average for Wales Avenue and in line with the neighbourhood. This is a key asset, providing more private outdoor space than many nearby properties and offering potential for additions, a large shed, or landscaping.
5. What are the implications of the home's age?
Built in 1973, the home is older than many in Meadowood. This suggests potential for original features but also means crucial systems (like roof, plumbing, wiring, and windows) should be carefully inspected to understand their age and condition, as updates may be needed.