Property Overview: 35 Homewood Drive, Winnipeg

Key Characteristics & Appeal

This home at 35 Homewood Drive in Meadowood presents a distinct profile defined by its balance of space and value. Built in 1977, its 874 sqft living area is notably compact, ranking below average for its immediate street and the wider city. This positions it as a more manageable, efficient layout, potentially appealing for its lower utility costs and ease of maintenance.

The property’s primary standout feature is its generous 6,247 sqft lot, which is above average for both the neighbourhood and city. This offers valuable outdoor space for gardening, recreation, or future expansion—a significant asset where land is often at a premium. The assessed value is modest relative to the street and area, suggesting a potentially accessible entry point into the market.

Its appeal lies in this land-to-structure ratio. It suits first-time buyers or downsizers seeking a lower-maintenance home without sacrificing yard space, or investors looking for a property with land value in a stable, established neighbourhood like Meadowood. The recent sale history indicates steady market activity. A thoughtful perspective is that this home may represent a "blank canvas" opportunity; its value is anchored in the land, allowing a new owner to tailor the living space to their needs over time, whether through renovation or mindful updates.

Frequently Asked Questions

1. Is the house in need of major updates?
As a home built in 1977, it likely has original or older components. Buyers should budget for updates to major systems like roofing, windows, or HVAC, which are typical for a house of this age, and consider a thorough inspection.

2. Why is the living area smaller than average?
The home's design prioritizes a larger lot over interior square footage. This was a common approach in its era, offering more private outdoor space—a trade-off that may be desirable for those who value land over a larger floor plan.

3. How does the assessed value relate to the likely selling price?
The assessed value ($35,100) is for municipal tax purposes and is typically lower than market value. Recent sales on the street ($350k-$400k in 2024) are a more accurate indicator of current market value.

4. What are the advantages of a larger lot in this neighbourhood?
A lot size above the area average provides more privacy, space for sheds or decks, and room for children or pets to play. It also may offer better potential for future additions, subject to local zoning bylaws.

5. Can I get the exact historical sale prices?
The exact sale prices are not publicly listed. The listing service offers to provide them manually via email upon request to ensure accuracy for serious buyers.