Property Summary: 29 Meadow Lake Drive, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a specific and practical opportunity in Winnipeg’s Meadows neighbourhood. Its key characteristic is its compact size, with a living area of 680 sqft that places it among the smallest homes on its street and in the broader area. Built in 1983, the house sits on a 4,099 sqft lot, which is also below the local average. The assessed value is notably low compared to immediate neighbours, yet aligns more closely with the city-wide average for homes, suggesting a potentially accessible entry point into the market.

The appeal lies in its efficiency and affordability. It is a property that prioritizes function over space, suited for those who see a home as a practical base rather than a sprawling asset. It would best suit a first-time buyer, an investor looking for a rental property, or a downsizer seeking minimal upkeep and lower property taxes. A thoughtful perspective is that its below-average metrics on the street could represent a chance to own in the area at a lower threshold, with the potential to add value through updates. Its city-average assessment also indicates it’s not an outlier in the wider Winnipeg context, offering stability.

Section 2: Frequently Asked Questions

1. Is this a small house?
Yes. At 680 sqft, it is significantly smaller than most homes on Meadow Lake Drive and in the Meadows area, placing it in the bottom 5% locally for living space.

2. Why is the assessed value so much lower than the city-wide average sale price mentioned?
The city-wide "average" of $390k listed is for comparable homes in the assessment data, not a sale price. The home’s assessed value of $33.5k is typical for its specific profile city-wide (top 59%), but low for its immediate neighbourhood. Assessment values for tax purposes are not the same as market sale prices.

3. What does the sold price history (CA$250k–300k in 2017) tell us?
It provides a historical benchmark, showing the home sold in that range eight years ago. To understand its current market value, a professional appraisal or analysis of very recent local sales is necessary.

4. How does the lot size impact the property?
At 4,099 sqft, the lot is below average for the street and area. This means smaller outdoor maintenance but may also limit expansion possibilities. It’s a manageable size for a simple garden or patio.

5. You mention a "neighbourhood analysis page"—what does that show?
That tool would display this property on a map alongside nearby houses, allowing for a visual comparison of year built, living area, assessed value, and lot size. It helps contextualize how this home fits into the specific streetscape.