53 Magellan Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,246-square-foot home built in 1962 on a 6,415-square-foot lot in Winnipeg’s Westwood neighbourhood. The living area is slightly below the street average but sits close to the citywide median. The assessed value of $413,000 is above both the street and neighbourhood averages, ranking in the top 25% locally and top 35% citywide—suggesting the property carries a premium relative to its size.
The lot is where this property stands out. While it’s on the smaller side compared to others on the same street (ranked 28 out of 38), it’s above average for Westwood and ranks in the top 23% citywide for land area. That means the yard is more generous than what many Winnipeg homes offer, even in older neighbourhoods. The house itself is older than most in the immediate neighbourhood (ranked top 80% within Westwood by year built), but about average for the city overall.
The appeal here is a mix of practicality and potential. The land value is strong relative to the structure, which could matter for buyers thinking long-term. It’s a 1960s home in a stable, inner-ring suburban area—nothing flashy, but solid. The assessed value is higher than the street norm, partly because of the lot size and location rather than square footage.
This property would suit:
- Buyers who prioritize outdoor space over interior square footage.
- Someone who’s comfortable with an older home and might consider renovations or updates over time.
- Those looking for a Westwood address without paying a premium for a larger house.
- Buyers who want to hold a property where the land drives more of the value than the structure.
Five Possible FAQs
1. How does the living area compare to other homes in Westwood?
It’s around average for the neighbourhood. The home is 1,246 square feet, while the Westwood average for comparable homes is about 1,372 square feet. It ranks in the top 50% locally.
2. Why is the assessed value higher than the street average when the house is smaller?
Assessed value in Winnipeg considers land, location, and overall condition, not just square footage. This property has a larger-than-average lot for the city and sits in a ranked position (top 25% in the neighbourhood) that reflects its value relative to nearby homes.
3. Is the lot actually big or small for this area?
It depends on which comparison you use. On Magellan Bay, it’s on the smaller side—6,415 square feet vs. a street average of 6,974. But citywide, it’s above average and ranks in the top 23%. So it’s a good-sized lot by Winnipeg standards, just not the biggest on this particular street.
4. What does the 1962 build date mean in practice?
The house is older than most in Westwood (where the average is 1966), but about average for the city overall. That means systems like electrical, plumbing, and insulation may be original or updated at some point. Buyers should budget for inspections and potential upgrades, especially if no major renovations are documented.
5. Is this a good property for someone who wants to add square footage later?
Possibly. The land is larger than typical city lots, so there may be room for an addition or a garage if zoning and setbacks allow. That said, the lot is smaller than others on the street, so any expansion would need to be carefully planned. Checking city permits and talking to a local contractor would be wise before assuming there’s space to build.