55 Cortez Bay – Property Summary
Key Characteristics & Buyer Profile
This 1,272 sqft home sits on a 5,797 sqft lot in Winnipeg’s Westwood neighbourhood, built in 1969. Across the board—living area, assessed value ($379K), and land size—the property ranks consistently in the middle of the pack, both on its street and citywide. The standout feature is its age: it ranks first on the street and in the top 8% of the neighbourhood for being built in 1969, which gives it a slight structural maturity advantage over many neighbouring homes built earlier. The lot, while average for the street, is notably smaller than the Westwood and citywide averages—meaning the house sits on a more compact piece of land than many nearby properties.
The appeal here is grounded, not flashy. There are no dramatic upsides or downsides. For a buyer, this is a solid, unremarkable entry point into Westwood. It would suit someone who wants a home that is well-established (but not ancient), in a neighborhood with consistent character, and who isn’t looking for a deal driven by underpricing or a standout lot. It also works for buyers who prefer a smaller yard with less upkeep, given the below-average land area. The assessed value sits slightly below the neighbourhood and city averages, so there may be room for value appreciation if the area trends upward, but nothing speculative.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
It’s close to the street average ($377K) and slightly below the neighbourhood average ($392K), ranking in the top 42% locally. This suggests the home is priced competitively within its immediate area, but not a standout bargain relative to Westwood as a whole.
2. What does the land size mean in practical terms?
At 5,797 sqft, the lot is about 10% smaller than the street average and nearly 12% smaller than the citywide average. For a family that wants a manageable yard without excessive mowing or maintenance, this can be a plus. It also typically means the house is closer to neighbours, which may appeal in a more connected street feel.
3. Is a 1969 build considered old or well-maintained in this market?
It’s older than the neighbourhood average (1966) by a few years, but being the newest on its street (top 3%) means it may have seen fewer owners or less deferred maintenance. Homes of this era often have solid construction but may need updates to mechanicals or finishes—worth checking during a viewing.
4. Why does the house rank higher citywide for land (top 37%) than in its own neighbourhood (top 57%)?
Westwood as a whole tends toward larger lots (average 6,491 sqft). So while the property’s lot is small for its area, it’s still relatively generous compared to many older, tighter lots across Winnipeg. The citywide ranking reflects a broader, more mixed comparison.
5. Could this property be a good rental or investment?
Given its average metrics across value and size, it’s unlikely to outperform the market dramatically. However, its stability and established neighbourhood make it a low-risk option for steady rental income or a long-term hold. The smaller lot also means lower property tax implications relative to larger lots in Westwood.