23 Meadowbank Road – Property Summary

Key Characteristics & Buyer Fit

This is a 1,168 sqft home built in 1993 on a 3,993 sqft lot in Winnipeg’s Whyte Ridge neighbourhood. Its assessed value is $444,000.

The numbers tell a specific story. On its own street and within Whyte Ridge, the home is smaller than average and sits on a below-average lot. It ranks near the bottom for lot size (5th percentile in the neighbourhood) and living area (3rd percentile locally). However, compared to the entire city, the home’s size is essentially average, and its assessed value is above average — ranking in the top 29% citywide. The 1993 build year is also newer than the city median (1966), placing it in the top 21% across Winnipeg.

The appeal here is pragmatic rather than flashy. You get a home that is modest in size and on a compact lot, located in a well-established neighbourhood where the typical home is larger and sits on more land. This often means lower maintenance, less yard work, and a lower entry price compared to neighbours. It’s a realistic option for buyers who want to be in Whyte Ridge but don’t need — or don’t want to pay for — the extra square footage or extensive grounds that most homes in the area offer.

Best suited for: first-time buyers who prioritize location and manageability over space; downsizers moving from a larger home who appreciate a newer build with less upkeep; or investors looking for a property that undercuts the local market while still tracking citywide value trends.

Frequently Asked Questions

1. Why is the assessed value above average citywide when the house is smaller than average on its own street?
   Value is driven by more than just square footage or lot size. The home’s 1993 construction date is significantly newer than the city median of 1966, which typically supports higher valuations. The Whyte Ridge location also carries a market premium, and the property’s condition, finishes, and features (not detailed here) may further contribute.

2. What does “ranked in the top 97%” for living area in the neighbourhood actually mean?
   It means only about 3% of comparable homes in Whyte Ridge have a smaller living area than this one. The vast majority of nearby homes are larger. For a buyer, this signals that the house is on the smaller end of the local market — something worth noting if you plan to compare against other listings in the same area.

3. Does the small lot limit future renovations or additions?
   Potentially yes, but not necessarily. A 3,993 sqft lot is below the neighbourhood average of 6,175 sqft, which could restrict major expansions (like adding a large extension or a detached garage). However, it may still accommodate modest additions or a reconfiguration of the existing footprint. Always check local zoning bylaws for specific setback and lot coverage limits.

4. How does this home compare to other 1990s builds in Whyte Ridge?
   The year built is right around the neighbourhood average (also 1994), so it’s typical for the area. What stands out is that most homes from that era in Whyte Ridge have larger footprints and bigger lots. This property is essentially a compact version of the local standard — similar age, different proportions.

5. Is “below average” rank a red flag for resale value?
   Not inherently. Below-average rankings for size and lot matter most if you’re comparing against direct neighbours. But citywide, the property is competitive in value and age. Resale depends on what future buyers in this price range want. If the market shifts toward smaller, lower-maintenance homes in desirable areas, this property could hold its ground well.