Property Overview & Key Characteristics
This home at 503 Woodydell Avenue in Winnipeg's Meadowood neighbourhood presents a practical and value-conscious opportunity. Built in 1973, its 1,040 sqft living space is notably above average for its immediate street, offering more room than many direct neighbours. The 5,200 sqft lot is standard for the area. A key point of appeal is its recent sale in 2025 within the $450k-$500k range, a price that ranks highly compared to local and city-wide averages, suggesting strong market interest. The assessed value, however, is comparatively modest, which may indicate potential for future valuation adjustments.
Its primary appeal lies in its position as a well-sized, established home on a quiet street within a mature neighbourhood. It suits first-time buyers seeking a solid starter home with ample space, or practical investors attracted by the neighbourhood's stability and the evident market activity. A thoughtful perspective is that while the home is newer than many on its street, its assessed value hasn't yet caught up to its recent sale price, which could be a point of discussion regarding property taxes and long-term equity.
Frequently Asked Questions
1. How does the recent sale price compare to the assessed value?
The home sold for an estimated $450k-$500k in 2025, which is significantly higher than its current assessed value of $35,700. This is common and indicates strong market demand, but buyers should be aware that assessed values for taxation purposes may be adjusted in the future.
2. Is the living space considered large for the area?
Yes. With 1,040 sqft, this home ranks in the top 27% on its own street for living area, meaning it offers more interior space than most comparable homes directly around it.
3. What does the "Year Built" ranking tell me?
Built in 1973, this home is newer than about 74% of similar homes in the broader Meadowood area. On its specific street, however, it ranks as older than average. This suggests the immediate block is comprised of very well-established homes.
4. Who might this property not suit?
It may not suit buyers seeking a brand-new build or a very large lot, as it is a 53-year-old home with a standard-sized yard. Those looking for a project with major renovation upside might also find the recent sale at a premium price limits immediate equity gains from cosmetic updates alone.
5. How can I get the exact historical sold price?
The exact sold price is not publicly displayed. You can request it directly via the provided email form on the listing page. The service manually provides this detail, typically by the end of the same day, without using your email for marketing.