Property Overview
This home at 447 Wales Avenue in Meadowood stands out for its modern build and efficient use of space. Built in 2020, it is a notably newer construction compared to most homes in its immediate area and across Winnipeg. With 1,400 sqft of living space, it offers above-average interior room for both its street and neighbourhood. The assessed value of $420k reflects this premium, ranking well above local averages. A key trade-off is the lot size of 2,600 sqft, which is more compact than typical area properties, suggesting a focus on the home itself rather than extensive outdoor space. Its appeal lies in acquiring a modern, low-maintenance home with contemporary systems and finishes in an established neighbourhood. It would suit buyers looking to avoid the immediate renovations often needed with older stock, or those who prefer a simpler yard to manage, without sacrificing interior space and modern comforts.
Frequently Asked Questions
How does the lot size impact the property?
The lot is significantly smaller than most in Meadowood. This means less exterior maintenance and lower landscaping costs, but also limited private outdoor space for gardening or large gatherings compared to neighbours.
What does the "Elite" ranking for Year Built mean?
It indicates this home is among the newest 1% of properties in Meadowood and the newest 3% citywide. This suggests minimal immediate repair costs for major components like roofing, windows, or heating systems, which can be a major financial advantage.
Why is the assessed value higher than the last sold price in 2020?
The 2020 sale price reflected the brand-new construction value at that time. The current assessed value accounts for market changes over the past six years and the home's established presence in a mature neighbourhood.
Is the living space efficiently designed?
The home ranks above average for living area locally, despite the smaller lot. This can indicate a well-utilized floor plan where the square footage is focused on functional living space rather than being spread across a larger, potentially more expensive property footprint.
How does it compare to the nearby reference property at 47 Gosford?
While both are in Meadowood, 447 Wales is 45 years newer, has 440 more sqft of living space, and a higher assessed value. This highlights the premium for a modern, larger home, though 47 Gosford likely offers a larger, more traditional lot.