Property Overview & Key Characteristics
This 1972 bungalow at 342 Greenwood Avenue in Winnipeg's Meadowood neighborhood presents a practical, no-fuss homeownership opportunity. With 1,024 square feet of living space on a 5,198 sqft lot, its metrics are consistently average or slightly above average for its immediate area. This is a home that doesn't stand out for size or assessed value but offers stability within its community context. Its appeal lies in its straightforward, manageable scale and its position in a neighborhood of similar homes, suggesting predictable upkeep costs and neighborhood character. The lot size is notably generous for the street, offering above-average outdoor space relative to nearby properties.
It would suit first-time buyers looking for an entry point into the market without extreme fixer-upper demands, or downsizers seeking a single-level living option on a low-maintenance lot. Investors may also see value in its consistent, middle-of-the-road assessment and recent sale history, indicating a stable, if unspectacular, rental or holding opportunity.
Frequently Asked Questions
1. How does this home's size compare to others nearby?
The living area is slightly below the average for Greenwood Avenue but is very close to the average for the broader Meadowood area. It's a comfortably sized home for the neighborhood, not the largest or the smallest.
2. What does the assessed value tell me?
The assessed value is consistently around the median (46th-51st percentile) at every comparison level—street, neighborhood, and city. This indicates the property is fairly typical and not over- or under-valued relative to its fundamentals, which can mean less volatility.
3. Is the 1972 build date a concern?
While newer than many homes on its street, it's older than most in Meadowood. This suggests major systems may have been updated over time. A thorough inspection is key, but the home isn't among the oldest in the area.
4. The lot seems large. Is that an advantage?
Yes. The land area ranks in the top 34% on its street, meaning the lot is larger than many of its direct neighbors. This offers more private outdoor space and potential for additions or landscaping than is typical for the immediate block.
5. Based on the 2024 sale, is it likely to appreciate?
The recent sale price placed the home in the top 22% of sales on its street and top 17% in the area, suggesting it may have had features or condition not fully reflected in the basic metrics. This strong prior sale performance in a middle-of-the-road property could indicate a well-maintained home in a desirable micro-location.