74 Shepton Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1974-built home with 1,194 square feet of living space on a notably large 8,245-square-foot lot. The property sits in Westdale, a neighborhood where it ranks in the top 12% for living area and top 3% for assessed value relative to nearby homes. The lot itself is in the top 6% of the neighborhood and top 10% city-wide, meaning the yard is genuinely spacious by Winnipeg standards—not just a technicality.
The assessed value of $405,000 is slightly above the street average but significantly above the neighborhood average of $307,400. That gap suggests the property has already captured some of the value that comes with a larger lot, rather than being an under-priced diamond in the rough. The home’s year built (1974) places it among the newer homes on the street, but it's still a 50-year-old house—buyers should expect typical maintenance considerations for that era.
Who this suits: Buyers who prioritize outdoor space over interior square footage. The living area is slightly below the street average, so if you need a lot of indoor room, this may feel snug. But if you want a generous yard in a well-established neighborhood without paying for a full renovation, this is a practical fit. It’s also well-suited for someone who values relative newness within the immediate street context—though “newer” here means late-70s construction, not modern.
Frequently Asked Questions
1. How does the living area compare to other homes in Westdale?
It's above average for the neighborhood. The property’s 1,194 sqft ranks in the top 12% of 1,460 comparable homes in Westdale, where the average is 1,029 sqft. On the street itself, it's closer to average—ranked 25th out of 46 homes.
2. Is the assessed value a reliable indicator of market price?
Assessed value is a useful benchmark but not a direct market price. This home’s assessment of $405,000 is in the top 3% of the neighborhood, where the average is $307,400. That large gap suggests the lot and possibly recent upgrades are factored in. However, assessments can lag behind market conditions, so a local real estate agent’s comparative market analysis would give a clearer picture.
3. What’s the real advantage of the land size?
At 8,245 sqft, the lot is in the top 10% city-wide. That means more room for gardens, sheds, play structures, or future additions—without being in a newer subdivision where lots tend to be smaller. It’s a feature that holds value over time, even if the house itself is modest.
4. How does the year built affect insurance or upkeep?
Homes from 1974 are past the era of knob-and-tube wiring but may still have original plumbing, insulation, or windows. Being newer than many nearby homes (top 7% on the street) could mean fewer deferred maintenance surprises, but it’s worth getting a focused inspection on the roof, HVAC, and foundation—common areas of concern for homes of this vintage.
5. What does “Top 3% in assessed value” (neighborhood) actually mean?
It means this home is valued higher than 97% of comparable homes in Westdale. That’s a strong position, but it also means property taxes will be higher relative to neighbors. For a buyer, it signals that the home is an upper-tier asset in the area—which can be good for resale, but also means you’re paying a premium for the lot and location rather than the house itself.