Property Overview: 417 Meadowood Drive, Winnipeg
Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1972, presents a solid, no-frills opportunity in the Meadowood neighborhood. Its primary appeal lies in its above-average lot size of 5,562 sqft for the immediate street, offering more outdoor space than many neighboring properties. The home’s assessed value is notably strong relative to its street, ranking in the top 6%, which suggests it is viewed favorably for its tax bracket compared to direct neighbors.
The property suits practical buyers looking for value and space over modern finishes. It’s ideal for a first-time homeowner comfortable with a home from the 1970s, or an investor seeking a property with a stable assessment in a mature neighborhood. A thoughtful perspective is that while the living area is modest city-wide, the generous lot provides room for expansion, gardening, or outdoor living—a valuable asset not reflected in square footage alone. The recent 2022 sale in the $350k-$400k range indicates sustained market interest.
Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value is $37,400 for municipal tax purposes. This is significantly lower than the home’s last sold price range ($350k-$400k in 2022), which is typical. Market value is driven by recent sales and current demand, not the tax assessment.
2. Is the lot size a significant advantage?
Yes, particularly on this street. The lot is larger than 81% of comparable properties on Meadowood Drive. This means more private outdoor space and potential for additions, which is a key differentiator in this price range.
3. The home was built in 1972. What should I expect?
As a home from the early 1970s, buyers should budget for updates to major aging components like roofing, windows, plumbing, or electrical systems. A thorough inspection is essential to understand the condition and any needed investments.
4. How does this property rank for livable space?
The living area is about average for the Meadowood area but below the city-wide average. This indicates a comfortable size for the neighborhood, but buyers seeking ample indoor space may find it compact. The trade-off is the larger lot.
5. Can I get the exact historical sale prices?
The provided ranges ($250k-$300k in 2016, $350k-$400k in 2022) are based on public data. The exact sale prices are available by request from the listing service, which they provide manually via email.