Property Summary: 19 Keats Way
Key Characteristics & Buyer Profile
This is a 1965-built single-family home with a living area of 1,040 square feet on a 5,876-square-foot lot. The property sits modestly below average in size and assessed value within its immediate neighbourhood (Westwood) and along its own street, while landing closer to the city-wide averages for Winnipeg. The assessed property tax value is $340,000.
Its main appeal lies in the age of the structure. This home is among the oldest on Keats Way (ranking second out of 33 homes, in the top 6%), which can appeal to buyers who appreciate the craftsmanship, mature landscaping, or established character often found with properties from that era—rather than a newer, more uniform subdivision. The lot, while slightly smaller than the street average, remains a generous size by city standards, offering outdoor space without the maintenance burden of a much larger parcel.
This property would best suit buyers who value a quiet, established neighbourhood over a prime location within the city’s new developments. It is a practical choice for someone looking for a smaller footprint—perhaps downsizers, first-time buyers on a budget, or those who prefer to invest in a home’s bones rather than pay a premium for square footage or a newly built house. The property’s lower-than-average assessed value also suggests a potentially more accessible entry point into Westwood.
Five Possible FAQs
1. Given its smaller size, how does this home compare to others in Westwood for value?
The home’s assessed value is below the neighbourhood average ($340,000 vs. roughly $392,000), and its living area is in the bottom 8% for Westwood. This means you are paying less for less space. The trade-off is that you’re buying into a street with older, established homes rather than newer, larger builds. For a buyer who doesn’t need maximum square footage, the lower assessed value can translate to lower property taxes and a more manageable purchase price compared to nearby properties.
2. Is the lot size a concern? It ranks low on its street.
The lot is 5,876 square feet, which is about 6% smaller than the average on Keats Way (6,282 sqft). However, it is very close to the average for Westwood and the city as a whole. On the street, this puts it on the smaller side, but in practical terms, it is still a standard-size urban lot. For someone who wants a garden or yard without a huge lawn to mow, this could be a positive. The ranking is more about local variation than a sign of a cramped property.
3. The house was built in 1965. What should a buyer be aware of with a home this age?
A 1965 build suggests original construction elements that may need attention, such as older windows, plumbing, electrical systems, or insulation standards. However, it also places the home in an era often known for solid framing and established neighbourhoods with mature trees. It is not a heritage house, but it predates the rapid building booms. Buyers should budget for a thorough home inspection focusing on the roof, foundation, and mechanical systems. The age ranking among the top on the street indicates some neighbours may have similar vintage homes, so the area likely has a cohesive character.
4. How do the property taxes compare with the city average?
The assessed value of $340,000 is below the city average of $390,000. This typically results in lower annual property taxes than many homes in Winnipeg. For a buyer conscious of ongoing costs, this is a distinct advantage. The lower assessed value is partly due to the smaller living area and land, but also reflects the property’s position relative to newer, more valuable homes in the city. Taxes are a direct reflection of this assessment.
5. Is this property a good investment compared to newer homes in Winnipeg?
That depends on your definition of "investment." This home is not a premium asset in terms of size or land value within its immediate area. However, purchased at the right price, it offers lower entry and holding costs (taxes). Its value will likely track with the Westwood neighbourhood overall. The main risk is that smaller, older homes can appreciate more slowly than larger, newer homes in high-demand areas. The reward is cash flow and lower carrying costs. It is a conservative, lower-risk investment for an owner-occupier rather than a high-growth speculation play.