17 Magellan Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1960s home with 1,142 square feet of living space and a notably generous 7,107-square-foot lot. While the living area is below average for its street, the land area ranks in the top 13% on Magellan Bay and top 16% citywide—a meaningful distinction in a mature Winnipeg neighbourhood like Westwood. The assessed value sits at $318,000, which is below both the street and neighbourhood averages, though roughly in line with citywide medians.
The appeal here is not about move-in-ready size or recent updates. Instead, it lies in the land-to-house ratio. For a buyer who values outdoor space, potential for expansion, or a larger private yard in an established area, this property offers something that many newer or more typical infill homes on smaller lots cannot. It suits buyers who are comfortable with an older home and are looking more at the property's underlying land value and possibilities—whether that's adding square footage, landscaping, or simply enjoying a spacious lot in a central location. It may also appeal to those prioritizing lower purchase price relative to lot size, or investors eyeing long-term land appreciation.
Five Possible FAQs
1. How does the living space compare to other homes nearby?
It's on the smaller side. The home has 1,142 square feet, while the average for comparable homes on Magellan Bay is about 1,392 square feet. It ranks last on the street in living area.
2. Is the property priced below market value?
The assessed value of $318,000 is below the street average of $389,300 and the neighbourhood average of $392,100. It's more aligned with the citywide median, but keep in mind assessed value isn't always a direct match for current market price.
3. What does the large lot mean in practical terms?
At 7,107 square feet, the lot is above average for the street, neighbourhood, and city. This could mean more room for gardens, sheds, a larger deck, or future additions—depending on zoning. It's a notable asset for this price range.
4. Is the age of the house a concern?
Built in 1960, it's slightly older than the neighbourhood average of 1966. Many homes from this era have solid bones but may benefit from updated systems, insulation, or windows. A thorough inspection would be wise.
5. How does this property compare to others in Westwood overall?
It's a mixed profile. The land area is a strong point, ranking in the top 17% of the neighbourhood. But the living area and assessed value both rank in the bottom quartile within Westwood, meaning it's a smaller, lower-valued home on a generously sized lot—potentially a good value for the right buyer.