Property Overview: 140 Meadow Gate Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 140 Meadow Gate Drive in the Meadows neighbourhood stands out for its above-average size and value within its local context. Built in 1978, its key appeal lies in its generous 1,664 sqft of living space, which ranks in the top 3% on its own street and the top 22% citywide, offering more room than most comparable homes. It sits on a 5,608 sqft lot, providing ample outdoor space that is also above average for the immediate area.
The home’s assessed value of $47,700 is notably high for its street and neighbourhood, indicating it is a premium property in its micro-market. A recent sale between $500k-$550k in 2023 further supports its strong market position. While the home’s age is around the city average, it is older than many in the broader Meadows area, suggesting a well-established streetscape.
This property would best suit buyers looking for a spacious, established home in a mature neighbourhood who value above-average interior square footage and lot size over a newer build. It’s ideal for someone seeking a property that already holds a leading position in terms of size and value on its block, potentially offering a sense of space and investment relative to immediate neighbours.
Section 2: Frequently Asked Questions
1. How does this home’s size truly compare to others?
With 1,664 sqft, this home is significantly larger than the average on Meadow Gate Drive (~1,047 sqft) and in the Meadows area (~1,286 sqft). It offers substantial interior space compared to its direct neighbours.
2. The assessed value seems low. What does it mean?
The assessed value of $47,700 is for municipal tax purposes and is not the market value. Its key takeaway is its ranking: it’s the highest on its street and well above the area average, signaling this is considered a higher-value property by the assessor compared to nearby homes.
3. The home was built in 1978. What should I consider?
While the age is typical for Winnipeg, it is older than many homes in the wider Meadows area. Buyers should prioritize a thorough inspection to understand the condition of major systems (roof, wiring, plumbing) and potential need for updates, balanced against the character and space an older home can provide.
4. What does the 2023 sale price range tell me?
The $500k-$550k sale price from 2023 provides a recent market benchmark. It confirms the home transacts at a premium level, consistent with its high assessed value ranking. This helps establish a realistic price expectation for the current market.
5. How does the lot size compare?
At 5,608 sqft, the lot is larger than the average on its street and in the Meadows area. This is a notable advantage, offering more private outdoor space than many surrounding properties, which is a valuable and less replaceable feature.