57 Harwood Crescent, Winnipeg

Key Characteristics & Buyer Profile

This is a 1,290 sqft home built in 1970 on a 3,495 sqft lot in Westdale. What stands out is the significant gap between its living space and its assessed value. The home ranks in the top 3% for living area on its street (well above the 993 sqft street average) and top 6% in the neighbourhood. Yet its assessed value of $258k sits below both the street average ($280.7k) and the neighbourhood average ($307.4k). The lot is slightly smaller than the street average and noticeably smaller than typical Westdale lots.

The appeal here is counterintuitive. Most buyers assume larger homes command higher valuations, but this property bucks that pattern. It offers above-average interior space at a below-average price point—suggesting either undervaluation or that other factors (location within the street, condition, or layout) are pulling the assessment down. The home is roughly average in age for the area, so deferred maintenance or cosmetic issues might explain the gap.

This property would suit a buyer who values interior square footage over lot size and who is comfortable with a home that may need updating to realize its full market potential. It could also work well for someone looking to enter Westdale at a lower price point than the neighbourhood typically commands, or for an investor betting that the assessed value will rise after renovations.

FAQs

1. Why is the assessed value so low relative to the living area?
Assessed value doesn't just reflect square footage—it factors in condition, layout, location specifics, and recent sales of comparable homes. The below-average ranking on the street (top 73%) despite having more space suggests either the home's condition is pulling it down, or the street's higher-valued homes have other advantages like updated finishes or better lots.

2. Is the lot size a problem?
It depends on your priorities. At 3,495 sqft, it's around average for the street but well below the Westdale norm of 5,168 sqft. If you want a large yard, this isn't it. But if you prefer less outdoor maintenance and more indoor space, the trade-off makes sense.

3. How does this home compare to others in the neighbourhood map?
The neighbourhood analysis page (linked on the listing) provides side-by-side comparisons of year built, living area, assessed value, and lot size for nearby homes. You can see which properties are over- or under-valued relative to their features.

4. Would this home be a good renovation candidate?
Potentially. The gap between living space and assessed value is the kind of profile that can tighten with strategic updates. Kitchen, bathroom, or mechanical upgrades typically yield the best return. But it's worth checking whether any structural or zoning issues exist before budgeting.

5. What does "top 3%" on the street actually mean in practical terms?
It means only 2 out of 70 comparable homes on Harwood Crescent have more living area than this one. You're buying one of the largest floor plans on the street, which could be a selling point if you ever decide to move—but only if the interior condition supports it.