Property Overview: 297 Wales Avenue, Meadowood, Winnipeg
Key Characteristics & Appeal
This home at 297 Wales Avenue is a well-established property in the Meadowood neighbourhood, built in 1974. With 1,040 sqft of living space and a 5,194 sqft lot, its size is comfortably average for its immediate street and area, offering a manageable scale for many buyers. The standout characteristic is its assessed value of $40,700, which ranks in the top 14% on Wales Avenue and the top 22% in Meadowood. This suggests the property is viewed favorably by assessors relative to its local peers, potentially due to factors like condition, improvements, or lot utility.
The appeal lies in its position as a solid, middle-ground property within a mature community. It suits buyers looking for a home that requires no surprises in terms of size or lot, and who may value a stronger-than-average assessment as a marker of stability or underlying value. It’s a practical choice for first-time homeowners, downsizers, or investors seeking a straightforward property in a neighbourhood with consistent comparables. A thoughtful perspective is that while the home isn’t exceptional in size or newness, its above-average assessment on the street could indicate it’s a well-placed asset within a stable market segment, appealing to those who prioritize financial fundamentals over flashier features.
Frequently Asked Questions
1. What does the "above average" assessed value actually mean for a buyer?
It indicates the municipal property assessment is higher than many neighbours, which can reflect updates, condition, or lot advantages. It doesn't directly set market price, but can be a factor in property tax calculations and may signal perceived value.
2. How does the living area compare to a typical modern home?
At 1,040 sqft, it is smaller than the current city-wide average (~1,342 sqft). It represents a compact, efficient layout common for its era, suitable for smaller households or those seeking lower maintenance.
3. The home sold between $400k-$450k in 2021. Is that price relevant today?
It provides a historical benchmark, but market conditions have likely changed. It's most useful for understanding past value progression rather than determining a current price.
4. What is the significance of the lot size?
At just over 5,000 sqft, the lot is fairly standard for the area. It offers adequate outdoor space without being overly burdensome to maintain, a balance that appeals to many.
5. The home was built in 1974. What should I consider regarding its age?
This places it in the middle range for the neighbourhood. Prospective buyers should focus on the condition and updates of key systems (roof, windows, plumbing, electrical) rather than the year alone, as many homes of this vintage have been renovated.