Property Overview: 325 Meadowood Drive
Key Characteristics & Appeal
This 900 sqft bungalow, built in 1974, sits on a 3,148 sqft lot in Winnipeg’s Meadowood neighbourhood. Its core appeal lies in being a solid, average home within its immediate streetscape, offering a manageable entry point into the market. While its living space and lot size are below the broader neighbourhood and city averages, the home holds its own on Meadowood Drive itself, ranking around the middle of the pack for size and value among its closest neighbours. The assessed value of $29,500 is notably consistent with the street average, suggesting a stable and predictable valuation context.
This property would suit first-time buyers or downsizers looking for a lower-maintenance home without the premium of a larger lot. It also presents a practical opportunity for investors or renovators, given its older age and smaller scale, which could make updates more manageable. A thoughtful perspective is that its "average" standing on the street could mean less volatility and more predictable comparisons for resale, unlike a home that stands out as unusually large or small for the area.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
On its own street, its assessed value is around average. However, compared to the wider Meadowood area and the city, it ranks below average, indicating it is a more modestly valued property in the broader context.
2. What should I know about the home’s size and lot?
The living space (900 sqft) is compact, below the averages for both the neighbourhood and Winnipeg. The lot is also smaller than typical for the area, which translates to less exterior maintenance but limited space for expansions or large outdoor features.
3. The home was built in 1974. What does that imply?
Its age is above average for Meadowood Drive, meaning it is one of the older homes on the street. Buyers should budget for potential updates to major aging components like the roof, windows, or mechanical systems, common for homes of this era.
4. How have past sale prices performed?
Public records show it sold in the $250k-$300k range in 2021 and the $200k-$250k range in 2016. The exact prices are available upon request, but the ranges indicate historical value growth.
5. Who are the most likely neighbours or comparable properties?
Immediate neighbours are similar homes on Meadowood Drive. The listing also references nearby homes on the same street and properties in other areas with identical assessed values, which can be useful for comparing municipal tax assessments.