3 Carlyle Crescent – Property Summary
Key Characteristics & Buyer Profile
This is a 1,302 sqft home built in 1962, sitting on a notably large 9,651 sqft lot in Westwood, Winnipeg. The property’s main strength is its land. Lot size ranks in the top 5% within the neighbourhood and top 7% citywide—well above the local average of 6,491 sqft. The assessed value of $492,000 also sits above average at every level: top 20% on the street, top 9% in the neighbourhood, and top 21% in the city. Where the property falls short is living area and age. At 1,302 sqft, it’s below the street average of 1,676 sqft, and the 1962 build date is older than most nearby homes (average 1964 on the street, 1966 in the neighbourhood and city).
The appeal here isn’t the house itself but the package. A buyer gets a modestly sized home on a lot that’s considerably larger than what’s typical for the area. That combination—below-average living space paired with above-average land and assessed value—suggests the value is tied to the lot’s potential rather than the structure’s condition or size. It would suit buyers who prioritise outdoor space, are open to renovation or expansion, or are looking for a property where the land holds long-term appreciation potential. It’s less suited for someone who wants a move-in-ready home with generous interior space at this price point.
Frequently Asked Questions
1. Why is the assessed value high when the living area is smaller than average?
Assessed value reflects a property’s market value, which here is driven more by the large lot than the house itself. Land in Westwood, especially lots of this size, carries a premium. The house is older and smaller, but the land offsets that.
2. How does the lot size compare to other homes in Westwood?
This lot is roughly 50% larger than the neighbourhood average of 6,491 sqft. It ranks in the top 5% locally, meaning only about one in twenty properties in Westwood has a bigger lot.
3. Is the house a good candidate for renovation or expansion?
Potentially. With nearly 10,000 sqft of land, there’s room to add square footage—either through an addition or a secondary structure. However, the home was built in 1962, so any major reno should account for older systems and possible structural updates. Always check zoning and permit requirements first.
4. How does this property compare to newer homes in the area?
Newer homes in Westwood typically offer larger living areas and more modern layouts but sit on smaller lots. If you prioritise interior space and low maintenance, a newer home might be a better fit. If you value yard space and privacy, this property has an edge that newer builds rarely offer.
5. What type of buyer usually goes for a property like this?
Often it’s someone who sees the land as the primary asset—buyers planning a long-term renovation, families who want a big yard without moving to a more suburban area, or investors looking for a property with strong land-value growth. It’s less common for first-time buyers expecting a turnkey house.