54 Byrd Avenue – Property Summary
Key Characteristics & Buyer Profile
This 1,066 sqft bungalow from 1961 sits on a 5,458 sqft lot in Winnipeg’s Westwood neighbourhood. Its assessed value of $281,000 is notably below both street and neighbourhood averages—ranking dead last on Byrd Avenue and near the bottom of the Westwood area. The living space is slightly smaller than typical for the street and city, but the real story is the land: while the lot is on the smaller side locally, it's closer to the citywide average, meaning you're not giving up much yard compared to the broader market.
The appeal here is straightforward value in a established postwar pocket. The numbers suggest a home that hasn’t been heavily upgraded or expanded—the kind of property where a buyer can add sweat equity or renovate to build equity. The low assessment relative to neighbours could also mean lower property taxes than expected for the area. It's not a turnkey starter or a sprawling family home; it's a solid, modest house that invites a hands-on owner or an investor willing to see past dated finishes. Best suited for first-time buyers with renovation plans, downsizers who prioritize location over square footage, or anyone comfortable with a fixer-upper in a mature neighbourhood.
Five Possible FAQs
1. Why is the assessed value so far below the street and neighbourhood averages?
The home ranks lowest on Byrd Avenue for assessed value, which likely reflects a combination of its original 1961 build without major additions, its slightly smaller living area and lot size compared to neighbours, and possibly fewer upgrades (kitchens, bathrooms, mechanicals) than nearby homes. Assessment data lags behind renovations, so recent improvements could change that.
2. How does the lot size compare to other properties I might see?
On Byrd Avenue, 5,458 sqft is the second smallest of 22 homes. In the broader Westwood neighbourhood, it's in the bottom 77%—smaller than average but not unusually tiny. Across Winnipeg, it sits at the 45th percentile, meaning about 55% of city lots are larger. It's a compact urban lot, not a sprawling yard.
3. Is the living area manageable for a couple or small family?
At 1,066 sqft, it's in line with typical postwar bungalows. The street average is 1,096 sqft, so it's just 30 sqft under. For a couple or a family with one child, it can work well with thoughtful layout use. It may feel tight for a family of four unless the basement is finished for additional living space.
4. Would this property likely need significant updates?
Nothing in the data says the house is in disrepair, but a 1961 home with a low assessed value relative to peers often means original or dated systems (furnace, roof, windows, electrical). Buyers should budget for potential updates, especially since newer higher-assessed neighbours likely have modern renovations that haven't been done here.
5. What's the neighbourhood like in terms of resale potential?
Westwood is a well-established area of post-war bungalows and split-levels. Homes here vary widely in condition, so a renovated property nearby can sell at a strong premium. That gap—between the current assessed value and what a refreshed home could command—is exactly the opportunity. It's a resale play for someone willing to invest in updates over time.