Property Overview
This home at 10 Kildonan Meadow Drive presents a distinct profile defined by a significant contrast between its lot size and its living space. Built in 1987, the 694 sqft house sits on a notably large 7,104 sqft lot. Its assessed value is modest compared to the immediate street and neighborhood, yet aligns more closely with the Winnipeg city-wide average. Recent sales history shows appreciation, with the property selling in the $400k-$450k range in 2022.
Key Characteristics, Appeal & Ideal Buyer
The primary appeal of this property lies in its land. The lot size is well above average for both the Meadows area and the city, ranking in the top 10-16% of comparable properties. This offers rare potential for expansion, gardening, or outdoor living in a mature neighborhood. The house itself is compact, with a living area significantly below local averages, suggesting a cozy, low-maintenance interior footprint.
This combination suits specific buyers: those seeking an affordable entry into the neighborhood with a vision to renovate or expand, or those who prioritize a large private yard over a large house. It could also appeal to downsizers looking for minimal indoor upkeep but who still desire generous outdoor space. The modest assessed value and recent sale price indicate a lower financial barrier to entry for the area, making it a practical option for budget-conscious buyers or investors seeing long-term potential in the lot value.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
At 694 sqft, the home is significantly more compact than most in the area. This is characteristic of certain older models in the neighborhood and represents an opportunity for a buyer comfortable with a cozy layout or planning a future addition.
2. What does the lot size ranking actually mean for me?
Ranking in the top 10% in the neighborhood for land area means this property offers one of the largest lots available. This provides more privacy, space for recreation, and flexibility for potential projects like a shed, deck, or garden than most other local properties.
3. How does the assessed value compare to the recent sale price?
The assessed value is notably lower than the 2022 sale price range. This is not uncommon, as municipal assessments for tax purposes often lag behind market values. Buyers should rely on recent comparable sales, like the 2022 transaction, for a clearer market picture.
4. Is the age of the home (1987) a concern?
Built 39 years ago, the home is newer than the city-wide average but older than many on its street. This suggests major components may be nearing or past their typical lifespan, so a thorough inspection is advisable to budget for potential updates to roofing, windows, or mechanical systems.
5. Who would benefit most from this specific property?
This property is best suited for a buyer whose priority is securing a large lot in a mature neighborhood, who is comfortable with a small home's efficiency, and who views the compact house as either sufficient for their needs or as a canvas for future improvement. It is less ideal for those requiring substantial immediate living space without renovation plans.