43 Henday Bay – Property Overview
Key Characteristics & Ideal Buyer Profile
This is a 1,346-square-foot bungalow built in 1962 on a 6,384-square-foot lot in Winnipeg’s Westwood neighbourhood. Its standout feature is value: the assessed value sits at $311,000, which is notably below both the street average ($369,100) and the neighbourhood average ($392,100). That means you're paying for the bones, not the polish. The living area ranks near the middle across all comparisons, so it's not a cramped starter home or a sprawling family house—it’s a solid, functional size. The land area, while slightly smaller than the street average, is above average citywide, giving you more yard than many comparable Winnipeg properties. The year built (1962) is among the oldest on the street, which might appeal to buyers who prefer older construction, mature trees, and established neighbourhoods.
The appeal here is straightforward: it’s a budget-friendly entry into Westwood, a well-established area, without sacrificing square footage. The property likely needs some updating or cosmetic work to match its assessed value, which is the kind of opportunity that suits buyers who are comfortable with a renovation or refresh—not a full gut, but a project that could build equity. It’s less suited for someone wanting a turnkey home or a newer build unless they’re willing to pay a premium elsewhere. The lot size is a quiet advantage: in a city where outdoor space is valued, this lot outperforms most others in Winnipeg, giving you room for gardens, a shop, or future expansion if zoning allows.
Five Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbourhood average?
It likely reflects the home’s age (1962) and possibly limited major upgrades compared to nearby properties. The street average is $58,000 higher, suggesting many neighbours have renovated or expanded. This could mean the home is priced for someone willing to invest sweat equity.
2. How does the lot size compare to other properties in Westwood?
The lot is 6,384 sqft, which is slightly below the street average (6,800 sqft) but above the neighbourhood average (6,491 sqft) and well above the citywide average (6,570 sqft). So while it’s not the largest lot on the block, it’s bigger than most homes in the wider area.
3. Is the living area adequate for a family?
At 1,346 sqft, it’s slightly above the street average (1,296 sqft) and on par with citywide medians. It’s a three-bedroom bungalow size—comfortable for a small family or couple, but not spacious for larger families unless you use the basement for extra living space.
4. What does the year built (1962) mean for maintenance?
Homes from this era typically have solid framing and good bones, but may need updated wiring, plumbing, insulation, and windows. Check if any major systems (roof, furnace, windows) have been replaced recently. The above-average age on the street suggests you might be buying one of the more original homes in the area.
5. How does this property rank for resale potential?
The assessed value is in the bottom 10% of Westwood, which could be a good sign for future appreciation if you make targeted improvements. The lot size is a strong asset citywide, and the neighbourhood is well-established—so the resale market here tends to be stable, not flashy. It’s a long-term hold more than a quick flip.