Property Overview
464 Meadowood Drive presents a well-maintained home built in 1974, offering a practical footprint of 1,080 square feet on a 4,048 square foot lot. Its appeal lies in its strong standing within its immediate street and neighbourhood, particularly offering more living space than most comparable homes on Meadowood Drive. The property suits first-time homebuyers, downsizers, or investors looking for an affordable entry into a stable Winnipeg neighbourhood. It’s a home that prioritizes value and livability over size, ideal for someone who appreciates a manageable property with a lower maintenance burden and tax assessment compared to wider city averages.
A thoughtful perspective: While the home’s city-wide rankings for size and value are modest, its exceptional ranking for living area on its own street suggests it might be one of the more spacious and potentially updated models in that specific built-form. This creates a smart value proposition—enjoying above-average interior space for the block while benefiting from the area’s typically lower assessed values.
Frequently Asked Questions
1. How does the assessed value affect property taxes?
A lower assessed value, like this home’s $29,100, generally leads to lower municipal property taxes compared to homes with higher assessments in the same city. This is a key factor in its ongoing affordability.
2. What does the "Top 1%" ranking for living area on the street mean?
This indicates that, among the 81 comparable homes on Meadowood Drive, this property has more living area than 99% of them. It is exceptionally spacious for its specific street, which is a significant advantage in an older neighbourhood.
3. Is the lot size a concern?
At just over 4,000 sq. ft., the lot is larger than average for the street but smaller than many in the wider Meadowood area and city. This translates to less yard maintenance, which can be a positive for some, but may limit expansion possibilities or feel cramped for those wanting extensive outdoor space.
4. The home sold between 2022-2025. What can that price tell me?
The reported sale price range of $250k-$300k provides a recent market benchmark. When compared to the current assessed value, it can indicate the relationship between municipal assessment and actual market value, which is useful for understanding potential equity and tax balance.
5. Are homes from 1974 likely to have major issues?
A home of this age is likely to have had major components like the roof, windows, or furnace replaced. The key is to verify the condition and age of these updates. Its "above average" year-built rank for the street suggests it may be slightly newer than many direct neighbours, which can be a minor advantage.