500 Rouge Road – Property Summary
Key Characteristics & Buyer Profile
This is a 1963-built home with 1,044 sq ft of living space on a 5,098 sq ft lot, located in Winnipeg’s Westwood neighbourhood. Across every major metric—living area, lot size, assessed value, and build year—the property consistently falls below the average for its street, its community, and the city as a whole. The numbers are modest but not extreme: it ranks in the bottom third of the street for living space and lot size, while its assessed value ($322,000) is notably lower than both the Westwood average ($392,000) and the city average ($390,000).
The appeal here is straightforward: this is a genuinely affordable entry point into an established neighbourhood. It’s not trying to compete with larger or newer homes nearby, which means the price should reflect that gap. For a buyer who values location over square footage—someone willing to trade space for a lower barrier to entry—this property makes practical sense. It would suit first-time buyers, small households, or investors looking for a rental that doesn’t demand top dollar. The lot, while smaller than the neighbourhood norm, is still over 5,000 sq ft, offering a manageable outdoor footprint without the upkeep of a larger yard. The 1963 build year is common for the area, so maintenance expectations are predictable for that vintage.
Five Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbourhood average?
The property’s assessed value sits at $322,000, while the average for Westwood is $392,000. This aligns with the home’s smaller living area and lot size compared to nearby homes. It’s not necessarily a sign of poor condition—just that the property is smaller and likely less updated than the typical home in the area. If comparable sales support this, the lower assessment can actually work in a buyer’s favour for property taxes.
2. How does the build year affect maintenance or renovation potential?
The home was built in 1963, which is slightly older than the street average of 1966. Homes from this era often have solid framing but may need updates to electrical, plumbing, insulation, or windows. It’s also common to find original finishes that haven’t been refreshed. A buyer should budget for potential system upgrades, but the structure itself is likely sound if it’s been reasonably maintained.
3. Is a 1,044 sq ft home too small compared to others in the area?
It depends on your needs. In Westwood, the average home is about 1,372 sq ft, and on this street it’s 1,263 sq ft. So you’re giving up roughly 200–300 sq ft compared to the typical home nearby. That difference is noticeable but doesn’t mean the home is cramped—it just means rooms may be more compact, and there may be fewer bedrooms or a smaller layout. For a couple, a single person, or someone downsizing, it can work perfectly well.
4. What’s the lot like in practical terms?
At 5,098 sq ft, the lot is smaller than the Westwood average (6,491 sq ft) and slightly below the street average (5,481 sq ft). It’s still a standard city lot—enough for a decent backyard, a garden, or a small shed, but likely not large enough for major expansions. The upside is less mowing and lower maintenance, which some buyers prefer. It’s also easier to fence and more private than a larger open lot.
5. Where does this property stand in terms of value for money in Westwood?
Given that the property ranks below average in size, value, and age within its own neighbourhood, the asking price should be set accordingly. If it’s priced below the local median, it offers clear value for someone who wants to live in Westwood without paying the premium for a larger or newer home. It’s not a hidden gem—it’s a straightforward, modest house that should be priced to match its position in the market. Buyers looking for a discount in an otherwise average-to-higher-priced area may find this worth a closer look.