10 Franklin Bay – Property Summary
Key Characteristics & Buyer Profile
This 1,168 sqft home, built in 1996, sits on a 5,207 sqft lot in Winnipeg’s Westwood neighbourhood. What stands out here isn’t the size—it’s the value and the age.
The living area is below average for the street and sits around the middle of the pack citywide. At just under 1,200 square feet, this is a compact house, not a sprawling family home. The land is also on the smaller side compared to neighbours. But the assessed value tells a different story: it’s well above the neighbourhood average (ranked in the top 13%) and above average citywide, despite being below the street’s average. That suggests the property holds its value relative to the broader market, even if it’s on the modest end within its immediate block.
The year built is where this property really sets itself apart. It’s one of the newest homes in Westwood—ranked in the top 1% of the neighbourhood. Most surrounding homes date from the mid-1960s, so this is a significantly newer build in a mature area. For buyers who want a house that avoids the common issues of older Winnipeg homes (aging foundations, outdated wiring, knob-and-tube, lead pipes), this is a meaningful advantage.
This property would suit buyers who prioritize a newer, lower-maintenance home over square footage or a large yard. It’s a fit for couples, downsizers, or someone buying their first home who wants something move-in ready without the quirks of a 60-year-old house. It’s less suited to a family needing multiple bedrooms and a big backyard—unless they value location and newer construction over sheer space.
Five Possible FAQs
1. Why is the assessed value above the neighbourhood average when the house is smaller than many nearby?
Newer construction typically commands a premium. A 1996 build avoids many of the common depreciation factors of older homes, such as outdated mechanicals or foundation risk. The market assigns higher value to a house that requires less immediate capital investment, even if its footprint is smaller.
2. How does the smaller land size affect resale value?
It depends on the buyer. In Westwood, where lots are generally larger, a 5,207 sqft lot is below average. This can limit appeal for buyers who want a big yard for gardens, sheds, or future additions. But it also means lower maintenance and less time spent on yard work, which some buyers prefer.
3. Is a 1,168 sqft living area really enough for a family?
It depends on the family’s needs. This size is workable for a small family or a couple with one child, especially if the layout is efficient. But for a family with multiple children or anyone needing a home office, a dedicated playroom, or guest space, the square footage could feel tight. It’s best suited for those who prioritize location and newer construction over extra rooms.
4. What is the neighbourhood like, given that most homes are from the 1960s?
Westwood is a mature, established area with tree-lined streets and a mix of post-war bungalows and newer infills. You’re getting the advantage of a developed neighbourhood with schools, parks, and amenities, but in a house that is decades newer than most of its neighbours. The contrast in architecture and building quality can be noticeable.
5. How does the street’s ranking for value compare to the neighbourhood’s?
The property is ranked below average on the street itself (26th out of 29 for assessed value), meaning the neighbours on Franklin Bay have higher-value homes. But when compared to the broader Westwood neighbourhood, it ranks in the top 13%. So while it might be one of the less expensive homes on its immediate block, it is still a high-value property within the larger area.