Property score
52.6
Fair
Overall 52.6 · Smaller and older than most nearby homes
733 sqft (bottom 4%) · Built in 1972 (6 yrs older than avg)
Located in a high-income area with median household income of ~97k
Transit 74.0 · 3-min walk to transit with 2 nearby routes · Within 500m: 1 dining spot, 1 shop, 5 parks, and 1 sports facility nearby
Living Area
Below average
34% smaller than neighborhood avg.
Year Built
Below average
6 yrs older than neighborhood avg.
Mother tongue
English · 63%French · 9%
Past 10 years Meadowood sales snapshot (~80% of all data)
624
392.3k
$432/sqft
1978
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52.6 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: #46110598
$97K
Median household income
$94K
Average household income
8%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.8
P90 / P10 ratio
21%
Single-person households
31%
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
487 Woodydell Avenue — 9 amenities found within 500 m, across 5 categories, including 1 dining (nearest 159 m), 1 shopping (nearest 400 m), 5 parks (nearest 162 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 2% | Bottom 8% | Bottom 23% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 487 Woodydell Avenue, Meadowood, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a study in contrasts, presenting a clear value proposition rooted in its lot and location rather than its size or finish. Built in 1972, the 733 sqft bungalow is notably compact, ranking in the bottom 5% for living area both locally and city-wide. The interior space is functionally modest, suited for essential living. However, it sits on a 5,200 sqft lot that is average for the street and neighbourhood, offering a generous outdoor canvas relative to the home's footprint.
The primary appeal lies in its assessed value of $34,400, which is below average for Meadowood and well below the city-wide average. This creates a low-barrier entry point into homeownership. The last known sale was between $250k-$300k in 2016, suggesting a history of being an affordable option.
This property would best suit a pragmatic first-time buyer, an investor looking for a rental property with a manageable entry cost, or a hands-on owner who values the potential of the land over the existing structure. Its true potential is unlocked by viewing it as a land play with a liveable house included—ideal for someone planning a future expansion, addition, or who simply prioritizes a large yard over a large interior.
Section 2: Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
This is a compact, no-frills bungalow. Its size places it in the bottom 4% of homes in Meadowood, indicating it was built for essential, efficient living rather than spaciousness.
2. How can the assessed value be so much lower than the city average?
The assessment reflects the home's modest size, age, and likely basic condition. While the lot holds value, the structure itself contributes less to the overall assessment compared to larger, updated homes.
3. Is the large lot a redeeming feature?
Yes. The 5,200 sqft lot is a key asset. It is proportionally much larger than the house itself and is average for the area, offering significant outdoor space, privacy, and future potential that the interior currently lacks.
4. What does the 2016 sale price tell us?
The $250k-$300k sale price eight years ago reinforces this property's historical role as an affordable entry point. It suggests a market precedent for buyers who prioritized lot size and location over a finished or spacious home.
5. Who should seriously consider this property?
It’s a strategic buy, not a turn-key dream home. It perfectly suits a budget-conscious buyer willing to live modestly while building equity, or an investor seeking a property with a low carrying cost. Its value is in what it could become, not necessarily what it is today.
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