Property Overview: 55 Homewood Drive, Meadowood, Winnipeg

Key Characteristics & Appeal

This home at 55 Homewood Drive presents as a practical and competitively positioned property in the Meadowood neighbourhood. Built in 1981, it is a newer construction compared to many homes on its own street and in the immediate area, which may suggest updated building materials or systems. With 1,108 square feet of living space, it offers a manageable size that is very close to the neighbourhood average, suited for a small family, couple, or downsizer.

Its primary appeal lies in its value proposition. The home’s assessed value is below average for Homewood Drive itself, yet aligns closely with the averages for both Meadowood and the wider city. This positioning could indicate an opportunity for a cost-conscious buyer to enter a stable neighbourhood without a premium price tag. The lot, while smaller than others on the street, is still near the area average, offering reasonable outdoor space with less maintenance.

This property would best suit a first-time homebuyer or an investor looking for a straightforward, no-fuss entry into the Winnipeg market. It’s also a sensible fit for those who prefer a home from the 1980s, which often strikes a balance between modern layouts and the enduring construction quality of earlier decades. A thoughtful perspective is that its "middle-of-the-road" metrics across the board—neither the largest nor the oldest—can mean fewer surprises and a stable, predictable investment in a well-established community.

Frequently Asked Questions

1. Is the assessed value the same as the market selling price?
No, the assessed value (listed as $38,800) is for municipal tax purposes. The market price is determined by current buyer demand, the home's condition, and recent sales of similar properties, such as the referenced 2016 sale in the $300k-$350k range.

2. What does it mean that the home is "newer" than others on the street?
Built in 1981, this home is newer than many of its immediate neighbours. This could be an advantage, potentially meaning features like updated electrical wiring, plumbing, or insulation compared to homes built in the 1960s or 70s, though a full inspection is necessary to confirm the state of major components.

3. The lot size is noted as below average for the street. Is that a major drawback?
At just under 5,000 sq. ft., the lot is smaller than most on Homewood Drive but is near the average for Meadowood. This typically means less yard maintenance and lower landscaping costs, which can be a positive for buyers seeking a simpler outdoor space.

4. How can I find out the exact past sale prices?
The listing service provides estimated sold price ranges from public data. To obtain the precise historical sale figures, you must request them via email from the listing platform, as they are manually verified and shared directly.

5. The home ranks "around average" in many categories. Is that a good thing?
It can be. A property that consistently performs near the median for its area often represents a stable, benchmark investment. It suggests you are paying for the established neighbourhood norm rather than a premium for standout features or a discount for significant compromises, which can be a prudent approach for long-term value.