Property Overview: 498 Meadowood Drive, Winnipeg
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1974, presents a compelling case for value within its immediate neighbourhood. Its primary appeal lies in offering above-average living space for Meadowood Drive, ranking in the top 1% of the street for square footage. The lot size is also generous for the street, providing more outdoor space than most direct neighbours. However, the context shifts when viewed against the wider Meadowood area and the city, where the home's assessed value is notably below average, suggesting it may be an opportunity for buyers seeking a cost-effective entry into a stable neighbourhood.
The property would suit practical, value-conscious buyers such as first-time homeowners or downsizers who prioritize interior space and a established streetscape over a premium city-wide location. It’s a home that stands out on its own block but sits modestly within the broader market, ideal for someone looking for a solid foundation without the highest price tag.
Frequently Asked Questions
1. How does this home’s value compare to its neighbours?
The home’s assessed value is around average for Meadowood Drive itself but falls in the bottom 10% when compared to the broader Meadowood area, indicating it may be undervalued relative to nearby properties.
2. Is the living space typical for the area?
Yes and no. At 1,080 sqft, it offers significantly more living area than the average home on Meadowood Drive, but is slightly below the average for the wider Meadowood neighbourhood.
3. What does the year built tell us?
Built in 1974, this home is newer than most on its street (top 7%), aligning with the average for the Meadowood area. This suggests well-established infrastructure and mature landscaping, but buyers should budget for updates common to homes of this era.
4. How usable is the land?
The 4,498 sqft lot is larger than most on the street, offering good private outdoor space. It is, however, smaller than the average lot in the broader Meadowood area, so it's ample but not expansive.
5. Where can I find more detailed comparisons?
A dedicated neighbourhood analysis page is available, showing this property on a map alongside nearby homes with detailed comparisons of year built, living area, assessed value, and lot size.