457 Meadowood Drive

Property Overview & Appeal

This 1972 three-level split home at 457 Meadowood Drive is a practical and well-situated property in Winnipeg's Meadowood neighbourhood. Its key characteristic is a renovated basement, adding valuable finished living space to the 1,032 sqft footprint. The home sits on a generous 5,776 sqft lot, which is notably larger than most on its street (ranking in the top 10%), offering ample outdoor potential. With a detached garage and no pool, it presents a low-maintenance exterior profile.

The appeal lies in its established neighbourhood setting and strong value fundamentals. The property’s assessed value is in the top 7% on its street, and it last sold in 2022 for a price that was in the top 12% for the street, indicating a history of solid market performance. It would suit first-time buyers or downsizers looking for a move-in-ready home with a renovated lower level, or investors attracted by the stable area metrics and larger lot size. A thoughtful perspective is that while the home itself is of average size for the area, the combination of the renovated basement and the above-average lot provides a balance of indoor and outdoor utility that isn't always available in this price segment.

Frequently Asked Questions

1. What does the "renovated basement" typically include?
While the listing confirms the basement is renovated, specifics on finishes, layout, and whether it includes a separate entrance or bathroom should be verified through a viewing or direct inquiry with the listing agent.

2. How does the larger lot size benefit me?
Beyond simple yard space, a lot in the top 10% for size on the street offers greater privacy, more room for gardening, play areas, or future additions like a shed or deck, and can be a key value-driver in an established neighbourhood.

3. The home was built in 1972. What should I be aware of?
While the basement has been updated, a home of this age may have original components, such as windows, roof shingles, or major systems (heating, electrical), that are nearing or past their typical lifespan. A thorough home inspection is recommended.

4. The last sale was in 2022. Does that matter?
It indicates the current owners have held the property for a relatively short time. Understanding their reason for selling can be useful, but market conditions and prices have also evolved since mid-2022.

5. How does this home compare to others on the street?
The data shows it ranks highly for lot size and assessed value on Meadowood Drive. However, its living area is around the median, and it's an older home on a street with some newer properties. This suggests you are paying a premium for the land and the renovated condition rather than for above-average square footage.