Property Overview: 38 Olivewood Crescent, Meadowood, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1975, presents a solid, no-surprises opportunity in the established Meadowood neighbourhood. Its primary appeal lies in its balanced metrics and above-average lot size. The home sits on a 5,801 sqft parcel, which is notably larger than many lots in the immediate area and across the city, offering valuable outdoor space and potential. While the living area is comfortably average for the street and neighbourhood, the home's year of construction is newer than most on its block, which can be a positive indicator of its underlying systems.
The property suits practical buyers looking for a manageable footprint in a mature community. It’s ideal for first-time homeowners seeking a straightforward entry point, downsizers wanting a single-level layout with a generous yard, or investors looking for a stable rental property. The recent sale in the $350k-$400k range suggests a market-tested value. A thoughtful perspective is that this home represents the "quiet middle" of the market—it may not have flashy standout features, but its above-average land component and newer-build ranking on the street provide a foundation of intrinsic value that isn't immediately obvious from the square footage alone.
Section 2: Frequently Asked Questions
1. How does this home compare to others on the street?
The home is very typical for Olivewood Crescent in terms of size and assessed value, ranking right around the middle. Its key advantages are a lot size in the top 30% on the street and a build year that is newer than most of its direct neighbours.
2. Is the assessed value the same as the market value?
No. The municipal assessed value for tax purposes is $38,500. The home sold for between $350,000 and $400,000 in 2024, which reflects its actual market value.
3. What does the "above average" land area mean for me?
With a lot size ranking in the top 26% for Meadowood, you have more outdoor space than many comparable properties. This allows more room for gardening, recreation, or future additions like a shed or deck, and typically contributes to better long-term property value.
4. The home is 50 years old. What should I consider?
While newer than many on its street, a 1975 build means essential systems (roof, windows, plumbing, electrical) are likely at or beyond their typical lifespan. A thorough inspection is crucial to understand the condition and any upcoming capital expenses.
5. How can I find out the exact past sale price?
The provided sale price is a range based on public data. You can request the exact historical sold price by emailing the listing service via the "Get exact sold price history" button; they provide this detail manually at no cost.