Property Overview: 421 Wales Avenue, Meadowood, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 421 Wales Avenue is a practical, no-frills property that represents an accessible entry point into Winnipeg’s housing market. Built in 1974, its 962 sqft living area is modest, ranking below average for its immediate street and the wider city, but is quite typical for the Meadowood neighbourhood. The lot size of 5,199 sqft is a notable feature, offering above-average outdoor space for the street itself, which presents potential for gardening, expansion, or simply more private yard space than many nearby homes.
Its primary appeal lies in its value proposition. With a recently sold price indicated between $400k-$450k and a significantly lower assessed value, it suggests a property that may require updates or investment, appealing to buyers comfortable with a project. The home suits first-time buyers seeking a functional starter home with room to grow outdoors, or value-focused investors looking for a rental property with a manageable footprint. A less obvious perspective is its positioning within its community: while the home itself is modest, its lot size and established neighbourhood location offer a sense of space and permanence that can be hard to find in newer, more densely packed subdivisions.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to others in the area?
At 962 sqft, the living area is slightly smaller than the average home on Wales Avenue (~1,089 sqft) and in Meadowood overall (~1,114 sqft). It offers efficient, compact living space.
2. What does the significant difference between the sold price and assessed value indicate?
The sold price range ($400k-$450k) being higher than the assessed value ($33.30k) is common, as assessed values for tax purposes often lag behind market values. This gap can also reflect recent market conditions, specific property features, or updates not fully captured in the assessment.
3. Is the lot size a advantage?
Yes. The 5,199 sqft lot is larger than the average lot on Wales Avenue (~4,784 sqft). This provides more outdoor space than many immediate neighbours, which is a valuable asset for privacy, recreation, or future landscaping.
4. What type of neighbourhood is Meadowood?
Meadowood is an established, mature neighbourhood with homes primarily from the 1970s and 80s. The property data shows values and home sizes here are generally below the city-wide average, indicating it’s a more affordable, community-focused area.
5. Where can I find more detailed context about nearby properties?
You can use the provided link to open the neighbourhood map analysis. This tool allows you to see this property in direct geographic context with nearby homes, comparing details like year built, lot size, and assessed value visually.