Key Characteristics & Buyer Profile
This is a 1,057-square-foot bungalow built in 1963, on a 5,125-square-foot lot in Winnipeg’s Westwood neighbourhood. Its assessed value is $330,000.
The property’s main draw is its strong street-level positioning: it ranks among the newer homes on Best Street (top 4%) and near the top third for assessed value. That suggests a well-maintained home or one that’s been updated in a way that holds value relative to its immediate neighbours. The living area and land area, however, are smaller than average—both on the street and in the wider neighbourhood. That’s not unusual for an older infill lot, but it means the interior is compact, and the yard won’t suit someone looking for generous outdoor space.
This home would suit a buyer who values a solid, modestly sized house on a good street over maximum square footage or a large lot. It could work well for someone downsizing, a first-time buyer looking for something move-in ready with reasonable taxes, or an investor after a property that’s priced below the neighbourhood average ($392k) but on a street where values are stable. The trade-off is that neighbourhood-wide metrics show this home sits in a pricier context—Westwood has larger, more expensive homes on average—so it may feel smaller compared to surrounding properties.
Five Possible FAQs
1. How does the smaller-than-average lot affect resale potential?
A lot that’s 5,125 sqft in a neighbourhood where the average is 6,491 sqft could limit what some buyers are willing to pay, especially families wanting a bigger yard. However, on Best Street itself, the average lot is only 5,250 sqft, so the size is close to the norm for that immediate block. That street-level consistency tends to keep values predictable.
2. Is the assessed value of $330,000 a good deal compared to the neighbourhood?
Yes, in terms of price per square foot. The neighbourhood average assessment is $392k for homes averaging 1,372 sqft—so you’d be paying below that benchmark for a slightly smaller home. The street-level average is $329k, so this property is right in line with its immediate peers.
3. What does “Top 4% for year built” mean in practical terms?
It means only two other homes on Best Street are newer than this one (built 1963, compared to the street average of 1961). That doesn't guarantee the home is in perfect condition, but it suggests it’s likely newer than most of its neighbours’ roofs, foundations, or mechanicals—which can mean lower maintenance costs in the near term.
4. How does the living area compare to other homes in this price range?
At 1,057 sqft, it’s about 10% smaller than the average on its street (1,181 sqft) and about 23% smaller than the Westwood average. If you’re used to newer suburban homes with open plans, this will feel compact. But for a 1960s bungalow, that’s a typical size—often with separate rooms rather than one big great room.
5. What’s the neighbourhood like for someone who doesn’t need a big yard?
Westwood is a mature, established area with older homes, good tree cover, and close access to parks and routes like the Trans-Canada Highway. The smaller lot here actually fits the older infill character. If you prefer less yard work and a more walkable street, this could be a plus—it’s easier to maintain, and you’re not paying a premium for land you won’t use.