Property Overview: 187 Lynn Lake Drive, Meadows
Section 1: Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1985, presents a straightforward opportunity in Winnipeg's Meadows neighborhood. Its primary appeal lies in its solid positional value within its immediate community. The home sits on a slightly larger-than-average lot for Lynn Lake Drive, offering a bit more outdoor space than many of its direct neighbors. While the living space is modest and typical for the street, the property’s assessed value is notably below the area average, which can signal different things: to some, it may represent a value entry point; to others, it may indicate a home in need of updates that could be factored into the offering price.
The home would suit practical, value-conscious buyers. This includes first-time buyers looking for a manageable footprint in an established area, or investors seeking a rental property with fundamentals that align with the local market. A thoughtful perspective is that a home ranking "newer" on its street (built in 1985, ranking in the top 14% locally for year built) may have benefited from construction techniques and materials of that era, potentially simplifying certain renovations or maintenance compared to much older stock.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely market value?
The assessed value of $35,400 is a municipal figure for tax purposes and is significantly below both the city-wide average and the home's last known sale price range (between $250k-$300k in 2016). Market value is determined by current conditions, recent comparable sales, and the property's state, and will typically be higher.
2. What does the "below average" assessed value for the Meadows area indicate?
It primarily indicates that, according to municipal assessment, this home's taxable value is lower than about 72% of comparable properties in the broader Meadows area. This doesn't necessarily reflect condition, but can sometimes correlate with a home that has seen fewer major upgrades or additions relative to others.
3. Is the lot size a significant advantage?
At 5,549 sqft, the lot is above average for both the street and the Meadows neighborhood. This provides more private outdoor space than many nearby properties, which is a tangible asset for gardening, recreation, or future expansion, subject to zoning.
4. The home sold between $250k-$300k in 2016. How useful is that price today?
It establishes a historical benchmark, but market dynamics, interest rates, and the condition of the property have likely changed in the years since. It's a starting point for research, but current value should be based on very recent sales of similar homes.
5. Why must I request the exact sold price history by email?
Precise sale prices are not always publicly disseminated in Manitoba in a timely manner. The service manually verifies and provides accurate data from proprietary sources, ensuring you receive correct figures rather than estimates.