Property Overview: 2 Kildonan Meadow Drive

Section 1: Key Characteristics & Appeal

This home presents a distinct value proposition centered on its exceptional lot size. Built in 1988, the 1,186 sqft house sits on a generous 11,001 sqft parcel of land, which ranks in the top 5% locally and city-wide. This offers rare potential for expansion, gardening, or outdoor recreation in a mature neighbourhood. The living space is modest and slightly below average for its immediate street, suggesting the property's primary appeal is the land itself rather than the existing footprint.

Its appeal lies in this land-to-structure ratio. For the right buyer, it represents a canvas—a solid, late-80s home on a lot where future additions, a large workshop, or extensive landscaping are feasible. The assessed value is positioned below average on its street but around average for the broader area, indicating the lot premium may be balanced by the home's size and age.

This property would best suit practical buyers or long-term planners. It’s ideal for someone who values private outdoor space over a large interior, or for a household planning a future renovation or addition. It could also appeal to an investor or buyer who sees underlying value in a large, mature lot within the city.

Section 2: Frequently Asked Questions

1. Is the price driven more by the house or the land?
The data suggests the value is significantly tied to the land. The lot size is elite for the area, while the house's living area and assessed value are at or below local averages. The price likely reflects the potential the lot provides.

2. What does the "Elite" ranking for land area actually mean?
It means this property's lot is larger than approximately 95-98% of comparable properties in Winnipeg. On its own street of 140 homes, it has the 5th largest lot, offering a level of privacy and space that is now uncommon in most newer subdivisions.

3. The home was built in 1988. What should I consider about its age?
A home of this age is likely to have undergone several updates. Key systems like the roof, windows, furnace, and electrical should be inspected for their current condition and replacement history, as major components may be nearing the end of their service life.

4. How does the sold price range (CA$350k–400k in 2024) relate to the assessed value?
The assessed value for taxation purposes ($39.80k) is not a market valuation. The recent sold price range is the relevant market indicator. The significant difference is normal; assessment values are typically a fraction of market value, calculated using a different methodology.

5. Are there any less obvious considerations with such a large lot?
Yes. Consider the ongoing maintenance (lawn care, snow clearing) for the sizable yard. Also, verify any local zoning bylaws or restrictive covenants that might affect your plans for the land, such as building placement, secondary suites, or outbuildings, to fully understand the potential you're buying.