Property Summary: 4 Farnley Place
1. Key Characteristics & Buyer Profile
This is a well-positioned property in Winnipeg’s Westdale neighborhood, built in 1974—making it newer than most homes on its street and in the broader community. Its standout feature is the lot. At 7,836 square feet, the land is significantly larger than the average for Westdale (5,168 sqft) and well above the citywide median. That kind of yard space is increasingly hard to find, particularly inside established neighborhoods.
The living area itself is 1,152 square feet, which is slightly above average for its street and well above the Westdale average, but it falls slightly below the citywide median. It's a functional, modest footprint, not oversized. The assessed value is notably low for its street—ranking last among 10 homes—but sits close to the neighborhood average and below the citywide norm. That suggests the property may be undervalued relative to its immediate neighbours, or that those neighbours have been more substantially updated.
This home would suit a buyer who values land over square footage. It’s a natural fit for someone looking to renovate or expand, or for a household that wants generous outdoor space without paying a premium for a large house. It might also appeal to investors or homeowners who see long-term potential in a below-market assessment on a good-sized lot in a solid area. It’s less suited to someone wanting a move-in-ready, large modern home.
2. Five Possible FAQs
1. How does the property’s assessed value compare to similar homes nearby?
The assessed value is the lowest on Farnley Place and slightly below the Westdale average, but it’s well under the citywide median of $390,000. This could reflect a need for updates or a conservative assessment, but it also means lower property taxes relative to neighbouring homes.
2. Is the lot really that much bigger than typical Westdale lots?
Yes. The lot is 7,836 sqft, ranking in the top 12% citywide. In Westdale, the average lot is about 5,168 sqft, so this property offers roughly 50% more land than the typical home in the area.
3. Why is the property ranked low on assessed value but high on lot size?
Assessed value and lot size don’t always move together. The property has a large lot, but the home itself is from 1974, with a modest 1,152 sqft of living space. Many homes on Farnley Place likely have larger or more updated houses, which pushes their assessed values higher even with smaller lots.
4. How does the 1974 build year compare to other homes in Winnipeg?
It’s newer than average. The median build year citywide is 1966, and in Westdale it’s 1971. On Farnley Place, this home ties for the newest. That means it may have more modern construction standards and less deferred maintenance than many older homes in the area.
5. Would this property work for a renovation or addition?
Potentially, yes. The large lot and below-average assessed value create room for added value through improvements. However, any buyer should check local zoning, setback rules, and permit restrictions in Westdale before assuming an addition or major expansion is straightforward. The existing 1,152 sqft floor plan offers a solid base to work with.