512 Raquette Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,013-square-foot bungalow built in 1961, sitting on a 5,128-square-foot lot in Winnipeg’s Westwood neighbourhood. Its assessed value is $331,000.
The property’s standout feature is its lot size. On Raquette Street, it ranks in the top 30% for land area, meaning it offers more outdoor space than most of its immediate neighbours. Inside, the living area is modest—below average for the street, neighbourhood, and city. The home is also slightly older than the neighbourhood average (1961 compared to 1966), and its assessed value is roughly in line with other homes on the street but below the Westwood average.
The appeal here is practical rather than flashy. A buyer gets a decent-sized lot in a well-established area, without paying a premium for a larger house or newer build. This property would suit someone who values yard space—perhaps for gardening, a workshop, or room for kids or pets—and is less concerned about square footage. It could also work for an investor or flipper looking to add value, given the land-to-building ratio and the potential to renovate or expand. Families wanting a turnkey, move-in-ready home with generous interior space might find it tight.
Frequently Asked Questions
1. How does this home compare to others on the same street?
On Raquette Street, this property has a larger-than-average lot (top 30%), but its living area is below average (top 94%). Its assessed value is around average for the street.
2. Is this considered a good value for Westwood?
Not particularly. The assessed value sits below the Westwood average ($392,100), and the home is older and smaller than most in the neighbourhood. The value lies more in the lot size than the house itself.
3. What are the main trade-offs with this property?
The biggest trade-off is interior space versus land. You get a generous yard for the street, but the living area is on the smaller side—even for an older bungalow. The home is also older than many nearby, so maintenance and updates are likely considerations.
4. Would this work as a renovation project?
Potentially yes. The land-to-building ratio is favourable, and the assessed value leaves room for improvement. A renovation that adds living space or updates the interior could bring the home closer to neighbourhood standards. That said, check zoning and permits before assuming an expansion is straightforward.
5. How does the lot compare city-wide?
It’s about average. City-wide, this property ranks in the top 51% for land area. It’s decent for Winnipeg overall, but within Westwood, lots tend to be larger—the neighbourhood average is 6,491 square feet.