Property score
53.3
Fair
Overall 53.3 · Smaller than most nearby homes
900 sqft (bottom 20%) · Built in 1975 (3 yrs older than avg)
Located in a above-average income area with median household income of ~72k
Transit 74.0 · 4-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, 1 school, 6 parks, and 1 sports facility nearby
Living Area
Below average
19% smaller than neighborhood avg.
Year Built
Near average
3 yrs older than neighborhood avg.
Mother tongue
English · 60%French · 5%
Past 10 years Meadowood sales snapshot (~80% of all data)
624
392.3k
$432/sqft
1978
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53.3 is composed by the two sections below.
Property Score
Community Score
Meadowood
How to read: Share of sales in each ~$50k price band for “meadowood” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110597
$72K
Median household income
$82K
Average household income
14%
Low income (LIM-AT)
0.3
Income inequality (Gini)
3.3
P90 / P10 ratio
29%
Single-person households
22%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
472 Wales Avenue — 10 amenities found within 500 m, across 5 categories, including 1 dining (nearest 183 m), 1 education (nearest 462 m), 6 parks (nearest 244 m).
Meadowood · WPS public data · 2026
Annual incidents
24
2026
vs. city avg
-19%
relative to avg
Year-over-year
▼ -93%
vs. prior year
Primary type
Property
58%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 1% | Bottom 2% | Bottom 16% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This 1975-built home at 472 Wales Avenue in Winnipeg's Meadowood neighbourhood presents a specific, value-oriented opportunity. Its key characteristic is a notably low municipal assessed value of $25,400, which ranks in the bottom 1-2% of both its immediate street and the wider Meadowood area. The home is compact, with 900 sq ft of living space on a 2,599 sq ft lot, placing it below local averages for size. It last sold between $200k-$250k in 2019.
The appeal lies squarely in its position as an entry-point property. The low assessed value suggests a correspondingly lower property tax burden, which is a significant, long-term cost saving. It suits first-time buyers or investors seeking a foothold in the market with minimal ongoing municipal taxes. It may also appeal to those looking for a manageable, smaller home without the upkeep of a larger lot. A less obvious perspective is that its older construction date (1975) actually ranks as newer than many immediate neighbours, potentially indicating fewer age-related issues than older homes on the street.
Frequently Asked Questions
1. Why is the assessed value so much lower than the last sold price?
Municipal assessed value for tax purposes is not the same as market value. It is an estimate based on mass appraisal techniques and may not reflect recent renovations, interior condition, or current market demand, which ultimately determine sale price.
2. What does the below-average living and land area mean for me?
It confirms this is a more compact property. This means lower utility costs and less maintenance, but also less space for growing families, home offices, or extensive outdoor activities. It’s efficient but not expansive.
3. How significant is the potential property tax savings?
Based on its assessed value being roughly 30% lower than the Meadowood area average, the annual property tax savings could be substantial. This is a key financial advantage that improves long-term affordability.
4. The home sold between $200k-$250k in 2019. What is it worth today?
Market conditions have changed since 2019. An updated market valuation is essential, as values can be influenced by interest rates, neighbourhood trends, and the property's current condition, which the assessed value does not capture.
5. Are there any concerns with such a small lot size?
The lot is smaller than most in the area. This typically means a smaller yard, less privacy from neighbours, and potentially limited options for expansions like additions or large decks. It's important to verify local zoning bylaws for any future plans.
