Property Overview: 38 Lafortune Bay, Meadowood

Key Characteristics & Appeal

This 1,075 sqft bungalow, built in 1984, sits on a 4,826 sqft lot in Winnipeg's Meadowood neighbourhood. Its core appeal lies in its position as a competitively assessed, manageable property within a mature community. The home is notably one of the smaller and more modestly valued properties on its specific street (Lafortune Bay), which can be an advantage for buyers seeking lower property taxes and a simpler footprint without leaving a well-established area. Within the broader Meadowood area and citywide, however, its assessed value ranks above average, suggesting it is viewed favorably compared to many peers.

This property would suit first-time buyers, downsizers, or practical investors looking for an entry point into a stable neighbourhood. It offers a balance of a newer build date (compared to many city homes) and a responsible lot size, ideal for those who want a low-maintenance yard. A thoughtful perspective is that while it may be the smallest home on the block, this often means less direct competition from immediate neighbours if you later consider expansions or renovations, subject to approvals.

Frequently Asked Questions

1. How does the assessed value compare, and what does it mean for taxes?
The home's assessed value is $40,100. This is below the average for Lafortune Bay but above the average for the wider Meadowood area. Generally, a lower assessment relative to similar homes can lead to relatively lower property taxes, but the final tax bill also depends on the city's mill rate.

2. Is the living space significantly smaller than other homes in the area?
At 1,075 sqft, it is the smallest home by living area on Lafortune Bay. However, it is close to the average size for Meadowood (1,114 sqft) and only slightly below the Winnipeg average. It represents a more compact, efficient layout.

3. What is the history of sales for this property?
Public data indicates the home sold between $400,000 and $450,000 in 2022. For the exact historical sold price, you can request the information via email from the listing service.

4. How does the lot size compare, and what are the implications?
The 4,826 sqft lot is smaller than most on its street and in Meadowood, but near the citywide average. This typically means less exterior maintenance and gardening, which can be a benefit for those seeking ease, but may limit options for large additions or pools.

5. The home was built in 1984. What should I consider?
Built 42 years ago, this home is newer than many in Winnipeg. While this suggests potentially newer building materials and systems than pre-1970s homes, a professional inspection is still essential to evaluate the current condition of the roof, windows, plumbing, and electrical systems, which are likely at or beyond their typical lifespans.