Property Overview: 375 Castlebury Meadows Drive
Section 1: Key Characteristics & Appeal
This home presents a compelling value proposition centered on modern efficiency. Built in 2017, it is a relatively new property that requires less immediate maintenance than older city stock. With 1,503 sqft of living space, it offers above-average roominess for Winnipeg overall, while its assessed value of $383k sits comfortably around the city-wide average. This creates a scenario of getting a newer, reasonably sized home for a typical city price.
Its primary appeal lies in this balance of age, space, and cost. However, the context is important. Within its own North Inkster Industrial area and street, the lot size (2,787 sqft) is notably smaller than neighbours, and the assessed value is below the local averages. This suggests the property may offer a more affordable entry point into a neighbourhood of otherwise higher-valued homes, or that the smaller lot is a key differentiator.
This property would best suit pragmatic, first-time buyers or downsizers who prioritize a modern, low-maintenance home interior over a large yard. It’s for those seeking value in the structure itself rather than the land, and who are comfortable with a property that stands out as a comparative bargain on its own street.
Section 2: Frequently Asked Questions
1. Is this a good value for the money?
The data suggests it is a strong value city-wide, offering a newer, above-average-sized home for an average price. On its own street and in the immediate area, its assessed value is below average, which could indicate an opportunity or reflect the smaller lot size.
2. How does the smaller lot impact livability?
The yard is significantly smaller than most in the neighbourhood. This means lower outdoor maintenance but also less private outdoor space. It’s ideal for those who don’t prioritize gardening or large gatherings, but buyers wanting a spacious yard should take note.
3. What does the 2017 build year mean for me?
A 9-year-old home typically means modern building standards, newer major systems (like HVAC and roof), and fewer imminent repair costs compared to the city’s much older average home. It likely still falls within many original component warranties.
4. Why is the assessed value lower than neighbours on the same street?
The primary factor is likely the smaller land area. Assessed value combines land and improvement value. With a lot size in the bottom 15% on the street, the total assessment is reduced, even if the house itself is modern and well-sized.
5. The home sold in 2017. What can that price tell me?
The initial sale price (listed in a range between $250k-$300k) provides a baseline for its original market value. Comparing that to the current $383k assessment offers insight into market appreciation over the past 9 years, though a current professional appraisal is needed for today’s exact market value.