Property Overview: 61 Willowmeade Crescent, Meadowood
Section 1: Key Characteristics & Appeal
This 1974-built home in Meadowood presents a practical and straightforward opportunity. With 988 square feet of living space on a 5,496 sqft lot, its size is very typical for its immediate street and neighbourhood, offering a manageable layout. The data reveals a notable point: its assessed value of $330k is significantly lower than most homes on Willowmeade Crescent and in Meadowood, yet it aligns closely with the average assessed value for the entire city. This suggests the property may be positioned as a more accessible entry point into a stable, established area.
The appeal lies in its value proposition within its specific context. It’s a home for those prioritizing location and lot size over square footage, offering a chance to own in a mature neighbourhood without the premium price tag often commanded by larger or fully renovated homes on the same street. It last sold between $300k-$350k in 2023, indicating a stable market perception.
This property would best suit a first-time buyer, a downsizer, or an investor looking for a solid, no-frills property in a well-established Winnipeg neighbourhood. It’s for someone who sees potential in a home that is average in size and age for the area but stands out for its relative value, possibly viewing any updates as a chance to build equity over time.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than other homes on the street?
While the assessed value is in the bottom tier for Willowmeade Crescent, it is near the city-wide average. This typically indicates the home is more modest in size, finish, or features compared to its immediate neighbours, which may include larger or updated properties. It reflects a value-based entry point into the street.
2. How does the home's size compare to the area?
At 988 sqft, the living area is slightly below the average for Meadowood (1,114 sqft) and more notably below the Winnipeg average. However, it is almost exactly average for Willowmeade Crescent itself. This confirms it as a standard, compact home for this specific pocket of the neighbourhood.
3. What can the 2023 sale price range tell me?
The home sold for an estimated $300,000-$350,000 just two years ago. This recent transaction provides a solid, real-world benchmark for its market value, showing it transacts close to its current assessed value and can help gauge current pricing.
4. Is the lot size a positive feature?
The lot is just under 5,500 sqft, which is very close to the neighbourhood average and provides a standard suburban yard for the area. It’s not an exceptionally large lot, but it is consistent with the community’s character and offers typical outdoor space.
5. The home is 50+ years old. What should I consider?
Built in 1974, the home is of a very common vintage for Meadowood. Buyers should budget for and prioritize a thorough inspection of major aging components, such as the roof, windows, plumbing, and electrical systems, to understand the potential need for maintenance or updates.