486 Rouge Road – Property Summary
Key Characteristics & Buyer Profile
This is a 1964-built home with 1,114 square feet of living space on a 5,299 square foot lot, located in Winnipeg’s Westwood neighbourhood. Its assessed value is $309,000.
The property’s appeal lies in its relative affordability. On its own street and within Westwood, the home is priced below the average for comparable properties. While the living area and lot size are also below the street and neighbourhood averages, they sit close to the citywide median. In plain terms, you’re getting a home that is modest in size and price compared to its immediate neighbours, but fairly typical for Winnipeg as a whole.
This property would suit a buyer looking for an entry point into a stable, established neighbourhood. It may be a good fit for someone who prioritizes a lower purchase price over maximum square footage or lot size, or for an investor seeking a property with potential to add value over time. A less obvious angle: the below-average assessed value on the street (ranked 85th percentile) might suggest less competition from buyers who overvalue curb appeal or a big yard, but it could also reflect a home that needs more attention than its neighbours.
Frequently Asked Questions
1. Why is the assessed value lower than the neighbourhood average?
The home’s assessed value of $309,000 is below the Westwood average of $392,100. This could be due to a combination of factors: a smaller living area (1,114 sqft vs. 1,372 sqft neighbourhood average), a smaller lot, or possibly differences in condition or finishes. The assessment reflects these comparables, not the home’s potential after renovations.
2. How does the lot size compare to nearby homes?
At 5,299 square feet, the lot is below the Westwood average of roughly 6,491 square feet. It’s also smaller than many homes on Rouge Road itself. If having a large yard for gardening, sheds, or expansion is important, this property may feel more compact than its neighbours.
3. Is this a good neighborhood for families?
Westwood is an established, mid-century neighbourhood in Winnipeg. It’s not typically described as a trendy or up-and-coming area, but it offers relative stability and proximity to amenities. Families should assess local schools and commute patterns directly, as neighbourhood character varies street by street.
4. What does “below average” in living space mean for resale value?
Homes with smaller living areas in a neighbourhood of larger homes can sometimes sell at a discount, especially if buyers in that area prioritize space. However, the citywide ranking is near average, suggesting the size is not unusual for Winnipeg overall. Resale will depend more on the home’s condition and how it’s marketed than on the raw square footage alone.
5. How old is the home, and is that a concern?
Built in 1964, the home is roughly 60 years old. That’s typical for the street and neighbourhood, with most nearby homes built around the same year (average 1966). Age isn’t necessarily a red flag, but buyers should budget for potential updates to systems (roof, furnace, windows, plumbing) depending on what has already been replaced. A home inspection is strongly recommended.