31 Henday Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,108 sqft home built in 1961 on a 6,850 sqft lot, with an assessed value of $335,000. The property is consistently smaller and lower-valued than its immediate neighbours on Henday Bay and in the Westwood area—both the living area and assessed value rank near the bottom of the street. The year built is typical for the street (1961) but slightly older than the broader neighbourhood average (1966). Where this home stands out is its land: the lot is above average for the street, neighbourhood, and city, ranking in the top 20% citywide. That suggests the appeal here isn’t the house itself—it’s a modest, mid-century bungalow in an established area—but the possible opportunity the land presents. A buyer who values yard space, wants room for a future addition or redevelopment, or simply prefers an older, well-settled neighbourhood over newer subdivisions would find this property suited to them. It’s less likely to suit someone looking for a move-in ready, updated home or a house that matches the typical size and value of the surrounding properties.
Frequently Asked Questions
1. How does this property compare to others on the same street?
It’s smaller and lower in assessed value than most homes on Henday Bay. The living area is below average (33rd out of 40), the assessed value is near the bottom (35th out of 40), and the lot is above average (7th out of 40). The home’s age is about average for the street.
2. Is the assessed value a good indicator of market price?
Not directly. Assessed value is a government estimate used for property tax purposes, not a current market valuation. Citywide, the home ranks around average for assessed value (top 59%), but actual sale prices depend on condition, renovations, and buyer demand—none of which are reflected in the assessment data.
3. Why is the land area significant here?
At 6,850 sqft, the lot ranks in the top 18% citywide and top 20% within Westwood. That’s unusually large for an older infill property in Winnipeg. For buyers thinking long-term, the land could hold more value than the structure itself, especially if the house is modest or dated.
4. What do the "rankings" and "tiers" actually mean?
Each ranking shows how this property compares to similar homes within a specific scope—street, neighbourhood, or city. The percentage indicates the share of comparable properties it outperforms. For example, a top 18% land ranking means it has a larger lot than 82% of comparable homes citywide. The bar fill and colour are visual cues for how far above or below the median it falls.
5. Should I expect a higher renovation cost due to the 1961 build?
Possibly, but not necessarily. A 1961 home may have original systems (electrical, plumbing, heating) that need updating, and materials like asbestos or lead paint were common in that era. That said, older homes in established areas often have solid framing and mature landscaping. A thorough home inspection is advisable to assess the actual condition—age alone doesn’t determine cost.