This is a 1974 home with 1,012 square feet of living space on a 7,078-square-foot lot in Winnipeg’s Westdale neighbourhood. The property’s strongest feature is its lot size—well above the neighbourhood average (5,168 sqft) and citywide average (6,570 sqft). The assessed value of $400k ranks in the top 4% of the neighbourhood, reflecting strong local demand. The home itself is around average for the area in terms of living space, but its construction year (1974) is newer than much of the street and neighbourhood stock.
The appeal lies in the land-to-value ratio. A buyer here is getting a large, well-located lot in a desirable Westdale pocket without paying a premium for a larger house. This suits someone who values outdoor space, gardening, or the potential to renovate or expand. It’s less suited to a buyer who wants a large, move-in-ready home with generous interior square footage, as that’s where the property ranks slightly below street and city averages. Instead, it works well for a pragmatic buyer who prioritizes land value, quiet street location, and being in a top-ranked neighbourhood, over just interior size.
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How does the lot size compare to other homes on the street?
The lot is 7,078 sqft, ranking 7th out of 10 homes on Farnley Place. While slightly below the street average of 8,001 sqft, it’s still considered above average citywide (top 16%). On this particular street, a few neighbours simply have larger parcels.
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The assessed value is $400k, but the living area is below average. Is it overpriced?
Not necessarily. The assessment reflects land value more than living area. The property ranks in the top 20% on its street and top 4% in Westdale, meaning the land itself holds strong value here. The living space is modest, but the price is driven by location and lot size, not square footage alone.
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What does “ranked top 4% in the neighbourhood” actually mean for resale value?
It means that out of 1,460 comparable homes in Westdale, only 63 have a higher assessed value. This suggests that the property is already positioned in a price bracket that supports solid resale potential—especially if the lot is ever developed or subdivided, though you’d need to check zoning rules.
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Is the house energy-efficient being built in 1974?
Homes from this era vary. The year built ranks well within the neighbourhood (top 9%), but you’ll likely want to inspect insulation, windows, and HVAC. The lot’s size does allow for future upgrades (solar, landscaping) that might offset any original building inefficiencies.
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How does this property compare to others in Westdale that are slightly newer or larger?
If you compare it to homes built after 1974 or with over 1,200 sqft, this one likely comes in at a lower price point for the same lot. The trade-off is a smaller house on a big lot, versus a newer but possibly smaller lot elsewhere in the neighbourhood. It’s a choice between interior space and outdoor space.