Key Characteristics & Buyer Profile
This 1,157 sqft home on Addison Crescent, built in 1967, sits on a 5,124 sqft lot. Its standout feature is the construction year: it’s among the newest homes on the street (top 3%) and newer than average for its Westwood neighborhood and Winnipeg overall. The assessed value ($389,000) is above average locally, reflecting its relative modernity, though the living space and lot size are both below the street and neighborhood averages.
The appeal here is subtle. Buyers often assume a 1960s home means outdated finishes or major renovation needs, but this property’s age ranking suggests it may have been built later in the neighborhood’s development cycle—possibly with more modern framing, wiring, or layout standards than its immediate neighbors. For someone who wants a solid, post-war construction home without the premium price tag of a full gut renovation, this could be a sweet spot.
It would suit buyers who prioritize structural freshness over sheer square footage or a sprawling yard. First-time homeowners, downsizers, or anyone looking for a move-in-ready property in an established, mid-density area like Westwood would find it practical. The modest lot and living area mean less upkeep, while the above-average assessed value hints at decent equity stability without being overpriced for the region. It’s not a showpiece; it’s a sensible, relatively young house in a mature neighborhood.
Five Possible FAQs
1. Why is the assessed value higher than the street average if the house is smaller?
The assessed value reflects the market’s opinion of the home’s overall condition and desirability, not just its square footage. Because this home is newer (1967 vs. a street average of 1964 and many older homes nearby), it likely has fewer deferred maintenance issues, which translates to higher value per square foot. The assessed value aligns closely with the neighborhood and city averages, suggesting it’s priced fairly for its size and age combination.
2. Is a 5,124 sqft lot considered small for Westwood?
Yes, it’s below average. The neighborhood average is about 6,491 sqft, and this lot ranks in the bottom 10% locally. However, it’s close to the citywide average. For a buyer who doesn’t want a large yard to maintain and prefers a more compact, manageable property, this could be an advantage rather than a drawback. It’s also common for newer infill or later-phase homes on a street to have smaller lots.
3. How does the living space compare to other homes in the area?
The 1,157 sqft is below the street average (1,257 sqft) and well below the neighborhood average (1,372 sqft). It’s also slightly under the citywide figure. This suggests the home is more compact than typical for Westwood, which may appeal to buyers seeking a cozier layout or less wasted space. It ranks in the bottom third of the neighborhood, so larger families might find it tight, but couples or singles would likely find it adequate.
4. What does “close to average” for construction year actually mean here?
The house was built in 1967, which is right at the citywide median (1966) and slightly newer than the neighborhood median (1966). On its own street, it’s the second-newest home among 59, which is notable. This means the home likely has better insulation, electrical, or plumbing standards than many neighboring properties built a few years earlier, without the premium cost of a fully modern build. It’s a subtle but meaningful advantage for long-term upkeep.
5. How does the home’s rank on the street compare to its rank in the city?
On Addison Crescent, this home ranks well for age (top 3%) and assessed value (top 12%), but lower for living area (bottom 25%) and lot size (bottom 29%). Citywide, it sits near the middle for all four metrics (roughly 40th to 55th percentile). This indicates the street itself has older, larger, and lower-value homes overall—so this property stands out as a relatively newer, higher-value option in its immediate context, even if it appears average citywide.