Property Overview & Appeal
This home at 433 Wales Avenue in Meadowood presents a distinct profile. Its primary appeal lies in being a modern, above-average-sized home within a neighborhood of mostly older properties. Built in 2020, it is newer than 99% of homes in Meadowood and 97% citywide, suggesting minimal immediate repair needs and contemporary building standards. With 1,410 sqft of living space, it is significantly larger than most comparable homes on its street and in the immediate area, offering more interior room than the typical Winnipeg house.
However, this comes with a notable trade-off: the lot size of 2,601 sqft is well below average for the street, area, and city. This creates a specific dynamic—a spacious, modern home on a compact parcel. It would perfectly suit a buyer prioritizing a low-maintenance, turn-key interior without the desire for extensive yard work or large outdoor space. It’s also a strong fit for those seeking a newer build in an established neighborhood without paying a premium for a large lot. The assessed value is consistently above average for its immediate context, reflecting its modern condition and size.
Frequently Asked Questions
1. Why is the lot size so much smaller than the neighbors?
The home was built in 2020, much later than the surrounding properties which date back to the 1970s and 80s. This suggests it was likely a new construction on a subdivided lot or a replacement build, a common practice that maximizes living space on available land in mature neighborhoods.
2. How does the sold price from 2020 relate to today's value?
The home sold for an estimated $300k-$350k when new. The current assessed value for taxation purposes is $40,900. It’s crucial to understand that in Manitoba, assessed value is not market value; it is a figure used for calculating property taxes and is typically much lower. Market value would be determined by recent sales of similar homes.
3. Who would this property not be a good fit for?
It would likely not suit buyers looking for extensive garden space, outdoor privacy, or room for additions like a large deck or garage. The below-average lot size is a significant consideration for those valuing land over interior square footage.
4. What does "Elite" or "Top X%" ranking mean for the Year Built?
These rankings compare this home against all others in the defined area. For example, being in the "Top 1%" for year built in Meadowood means it is newer than 99% of homes in that neighborhood, highlighting its rarity as a recent construction in an older area.
5. The assessed value seems low compared to the city-wide average. Why?
The city-wide average assessed value shown (~$390k) includes all property types and values across Winnipeg. The $40.9k assessment for this home is not an outlier; the data shows it is "around average" (Top 36%) when compared to its specific city-wide peer group, indicating the system categorizes and assesses similar homes within a similar range.