Key Characteristics & Buyer Profile
This 1,012 sqft home sits on a notably large 9,431 sqft lot in Winnipeg’s Westdale neighborhood. Built in 1974, it holds the most recent construction year on its street (ranked 1 out of 7). Its assessed value of $412,000 places it in the top 3% within Westdale, significantly above the neighborhood average of $307,000. The living area is slightly below the citywide average but very close to the neighborhood average.
The main appeal here is the land. The lot ranks in the top 4% of Westdale and top 7% citywide, offering space that’s uncommon in this area. For a buyer, this is a trade-off: the interior living space is modest for its lot size, and the property tax assessment is relatively high compared to nearby homes. The house itself is well-maintained for its age, but the real value and potential lie outdoors.
This property would suit a buyer who values yard space, gardening, or possible future expansion over a maximized interior footprint. It’s less ideal for someone who wants a large, open-concept home right away, or for a buyer looking for a low-maintenance property.
5 Possible FAQs
1. Why is the assessed value so much higher than the Westdale average?
The assessment reflects the large lot size and the home’s relatively recent build year compared to many older homes in the neighborhood. The lot alone ranks in the top 4% of Westdale, which pushes the assessment well above the area’s typical $307,000 figure.
2. Is the living area of 1,012 sqft too small for this lot?
It depends on your needs. The home is proportionate for a modest single-family house, but the lot is generous. That gap often appeals to buyers who plan to renovate or build an addition later, or who simply want a large private yard without a massive house to maintain.
3. How does this home compare to other 1970s builds in Winnipeg?
It’s in good company. The construction year is slightly newer than the citywide average for comparable homes (1966) and newer than the Westdale average (1971). On its street, it’s the newest home, which can be a plus for structural condition and updates.
4. What does the “rank 2/7” on the street mean for resale value?
It means this home has the second-highest tax assessment on a street of seven homes. That can be a double-edged sword: it suggests above-average value, but it also means your property taxes will be higher than most neighbors’. For resale, the large lot and strong neighborhood ranking typically support stable value.
5. Is this home suitable for someone looking to downsize or for a family?
It could work for either, but with caveats. The 1,012 sqft interior suits a small family or empty nesters who don’t need many rooms, while the large lot appeals to families wanting outdoor play space. Downsizers might find the yard maintenance demanding unless they’re prepared for ongoing yard work.