1. Key Characteristics, Appeal, and Buyer Profile
This 1993 home on Meadowbank Road offers 1,381 square feet of living space on a 4,200 square foot lot. Its strongest asset is its assessed value relative to the street it’s on: the tax assessment of $513,000 ranks in the top 4% of homes on Meadowbank Road, significantly above the street average of $471,000. This suggests a property that has held or gained value well compared to its immediate neighbours, making it a compelling choice for someone focused on long-term equity.
The living space is above average for the street (top 18%) but below average for the broader Whyte Ridge community, where homes tend to be larger (around 1,666 sq ft). The lot size is modest for both the neighbourhood and the city, ranking in the bottom third citywide. This creates an interesting dynamic: the house itself is a good size for the street, but it sits on a smaller piece of land relative to the area. The 1993 build year means it’s not new, but it’s significantly newer than the city’s median home (built 1966).
Where the appeal lies: For a buyer, the main draw is likely the strong value position on a specific street. You’re getting a home that ranks very high for its assessed value among neighbours, but at a price that is near the median for the wider community. This could indicate a well-maintained or upgraded property that stands out locally. The smaller lot might appeal to someone who wants less yard maintenance and more interior space relative to the land cost.
Ideal buyer: This home would suit a buyer who prioritizes financial solidity and location over land size. Someone moving from a newer subdivision or a condo who still wants a detached home in a stable, established area like Whyte Ridge, but doesn’t need a sprawling yard. It could also work for an investor or first-time buyer looking for a property with strong local value signals, but they should be comfortable with a lot that is smaller than the neighbourhood norm.
2. Frequently Asked Questions
1. How does the property’s size compare to other homes on the same street?
The home’s 1,381 sq ft living area is above the street average, ranking 10th out of 55 homes (top 18%). However, the lot is slightly smaller than the street average of 4,609 sq ft, landing it in the middle of the pack.
2. Is the assessed value a good indicator of market price?
The assessed value of $513,000 is strong for the street (top 4%), but it’s only a reference point for property tax, not a direct market valuation. In Whyte Ridge, the average assessment is $530,000, so the home is slightly below the community average. A buyer should still compare recent sale prices in the area.
3. Why is the lot size ranked so low within Whyte Ridge?
The 4,200 sq ft lot places this home in the bottom 7% of the community (ranked 2,215 out of 2,382). Whyte Ridge has many homes with larger, deeper lots. This property likely sits on a more compact parcel, which is common for homes closer to main roads or built during a different phase of the neighbourhood.
4. What does the 1993 build year mean for maintenance?
A 1993 home is now over 30 years old. Major systems like the roof, furnace, and windows are likely due for replacement if they haven’t been updated. The construction quality from that era is generally solid in this area, but a home inspection should focus on those larger capital items.
5. How does this property compare to the average home in Winnipeg as a whole?
Citywide, this home is above average in assessed value (top 18%), newer (top 21%), and slightly above average in living space (top 37%). The lot, however, is below average for the city (bottom 29%). So it’s a newer, more valuable home on a smaller-than-typical city lot.