Property Overview
This 1,054-square-foot home on Byrd Avenue in Westwood, Winnipeg, was built in 1961 and sits on a 5,458-square-foot lot. Its assessed value is $314,000.
Key Characteristics: The property is consistent with its street and city averages in terms of size and value, but falls below its immediate Westwood neighbourhood averages in almost every metric. The lot is notably smaller than both street and neighbourhood norms, ranking in the bottom 18% on Byrd Avenue. The home’s age aligns with its street but is slightly older than the broader Westwood and city medians.
Where the Appeal Lies: The primary appeal is affordability relative to the surrounding Westwood area. Buyers get into a well-established neighbourhood with a significantly lower assessed value ($314,000) than the neighbourhood average ($392,000). The home is a pragmatic entry point into a desirable area, not a premium or oversized property. Its value lies in its ordinariness and reasonable pricing compared to local peers, rather than standout features or space.
Suitable Buyer Profile: This property suits a budget-conscious buyer who prioritizes location over size and condition. Ideal for a first-time homeowner, a small family, or an investor looking for a rental property in a stable area. It is less suitable for someone needing a large lot, significant square footage, or a modern, move-in-ready home without potential for updates.
Frequently Asked Questions
1. How does this home compare to others on the same street?
The property is close to average for Byrd Avenue. Its living area (1,054 sqft) ranks 13th out of 22 homes, and its lot size (5,458 sqft) is smaller than most, ranking 18th. Assessed value and build year are also near the street median.
2. Is the neighbourhood considered expensive or affordable?
Relative to Westwood, this home is an affordable option. Its assessed value is well below the neighbourhood average of $392,000, and both its living and land areas are smaller than typical Westwood properties. It offers a lower-cost entry into the community.
3. What does the build year (1961) mean practically?
The home is typical for the street but older than much of Westwood and the city average. Buyers should expect maintenance and system updates common to early 1960s construction, such as potential for older electrical, plumbing, and insulation. A pre-purchase inspection is strongly advised.
4. Is the small lot a disadvantage?
It depends on priorities. The lot is below average for the street, neighbourhood, and city. This means less outdoor space and yard maintenance, but also potentially lower upkeep costs and a more compact, manageable footprint. It may limit future expansion options.
5. What does the “assessed value” really tell me?
The assessed value ($314,000) is used to calculate property taxes. It is not the listing or market price, but an indicator of how the city values the property relative to others. Being below Westwood and city averages suggests lower tax liability compared to many nearby homes, but market value could differ based on condition and recent sales.