Property Overview
This 1975 bungalow at 318 Greenwood Avenue in Winnipeg's Meadowood neighbourhood presents a specific value proposition defined by its generous lot and modest home size. Its appeal is rooted in a clear trade-off: a smaller, efficiently sized house on a much larger-than-average parcel of land. The home is well-suited for first-time buyers, downsizers, or value-focused investors who prioritize outdoor space and future potential over immediate square footage.
Key Characteristics & Appeal
The home's 924 sqft living area is notably compact, ranking below average for its street, neighbourhood, and city. This suggests a efficient, likely easier-to-maintain interior layout. The standout feature is the 6,445 sqft lot, which ranks in the top 7% on Greenwood Avenue and the top 17% in Meadowood. This significant outdoor space offers room for gardening, recreation, or future expansion.
Built in 1975, the structure is newer than many on its street, potentially implying fewer concerns with aging core systems found in older homes. The assessed value is consistently around the median compared to local and city-wide averages, indicating a fair market positioning.
The property suits buyers comfortable with a "land value" play. It's ideal for someone who sees the large yard as an asset for family, pets, or a future renovation, rather than viewing the smaller house as a limitation. It also fits a practical downsizer who wants a manageable home without sacrificing private outdoor space.
Frequently Asked Questions
1. Is the house too small for a family?
While the living area is below average, the layout is key. For a small or young family, the efficient use of space combined with a large yard for play could be a worthwhile trade-off. It depends on your lifestyle and need for indoor versus outdoor space.
2. What does the large lot size mean for me?
Beyond gardening and privacy, a lot this size relative to the house presents long-term potential. It may allow for additions like a garage, workshop, or sunroom, subject to local zoning and permit approvals. It also typically contributes significantly to the property's overall value.
3. The home was last sold between 2022-2025. Why is the exact price not listed?
Exact sale prices are not always publicly available in Manitoba. The range provided is based on public data. You can request the precise sold price via email from the listing service, which manually retrieves and confirms the figure from official records.
4. How does the 1975 build year affect the home?
A home from this era will likely have undergone some updates but may still contain original components like windows, roofing, or plumbing. It's newer than many on the street, which can be positive, but a thorough inspection is recommended to understand the condition of these middle-aged systems.
5. How does this property truly compare to others nearby?
The data shows it's a unique profile on its street: a newer house on a much larger lot, but with less interior space. Compared to the immediate area, you're getting more land but less house. Your personal valuation of that balance will determine if it's the right fit compared to more standard offerings in Meadowood.