Property Overview: 7 Homewood Drive, Meadowood, Winnipeg

Key Characteristics & Appeal

This 1976-built home in Meadowood stands out for its above-average lot size and strong assessed value. With 1,502 sqft of living space, the home is comfortably sized, ranking in the top third for the area. The true appeal lies in its generous 7,494 sqft property, which places it in the top 10-14% when compared to both the neighbourhood and the wider city. This offers significant outdoor space and potential.

The home’s assessed value of $50.40k is notably high for its locale, ranking in the elite top 3% within Meadowood. This suggests a property that is well-maintained, improved, or favorably positioned relative to its peers. While the home’s age is typical for the area, the combination of a large lot and high assessment indicates a solid, valuable asset in a mature neighbourhood.

This property would suit a buyer looking for a established community with room to breathe. It’s ideal for someone who values a larger yard for gardening, children, or future expansion over a brand-new build. It also appeals to the value-conscious buyer who appreciates a home with an assessment that suggests it is a leading property on its street and in the wider area.

Frequently Asked Questions

1. What does the high assessed value actually indicate?
A high assessed value relative to neighbours typically reflects factors like recent renovations, additions, superior maintenance, or a premium lot location. It’s a strong signal of the property’s standing in the area, but it’s always wise to verify the specific reasons through a viewing and potential inspection.

2. Is the 1976 build date a concern?
The home is average in age for Meadowood. While this means some systems may be original or due for updates, it also often means the home is situated in a well-established area with mature trees and settled infrastructure. A thorough home inspection is recommended to understand the condition of the roof, windows, plumbing, and electrical.

3. How does the lot size compare practically?
At nearly 7,500 sqft, the lot is significantly larger than the area average. This provides more privacy, space for sheds or play structures, and gardening opportunities. It’s a key feature that adds long-term value and flexibility that is harder to find in newer subdivisions.

4. The last sold price shown is a range from 2019. How can I get the exact figure?
The exact sold price is not publicly listed in detail. As noted on the listing, you can request this information directly via email from the service. They provide this data manually and state they do not use email addresses for unsolicited marketing.

5. The home ranks well in its area, but only "above average" city-wide. Is that typical?
Yes. Mature neighbourhoods like Meadowood often have different property profiles compared to the entire city, which includes everything from new condos to rural acreages. Ranking "above average" city-wide on lot size and value, while being elite within the neighbourhood, actually highlights this as a standout property in a desirable, established community.