56 Wordsworth Way – Property Summary
Key Characteristics & Buyer Profile
This is a 1,155 sq. ft. bungalow built in 1960, sitting on a 6,650 sq. ft. lot in Winnipeg’s Westwood neighbourhood. The assessed value is $307,000.
What stands out here is the land. The lot is above average for both the neighbourhood (top 25%) and the city (top 20%). The house itself is modest—slightly smaller than the street and city averages for living area—and the assessed value reflects that, ranking in the bottom half of the street and neighbourhood. The structure is a bit older than most in the area (1960 vs. a neighbourhood average of 1966).
The appeal is in the trade-off. You’re getting a solid, older home on a generous lot in a neighbourhood where comparable properties tend to be more expensive. For a buyer who values outdoor space, gardening, or the potential to expand or renovate, this lot offers flexibility that newer, tighter subdivisions often don’t. It’s priced below most of its neighbours, which could mean room for sweat equity or a more attainable entry point into Westwood.
This property suits a buyer who is less concerned with a turnkey interior and more interested in location and land. It would work well for someone handy, a small family wanting a yard, or an investor looking for a property where the land holds disproportionate value relative to the house.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
The assessed value of $307,000 is well below the street average ($371,100) and the neighbourhood average ($392,100). It ranks in the bottom 12% on the street and bottom 5% in the area. Citywide, it’s closer to average (top 69%).
2. Is the living area small for a house this age?
It’s slightly smaller than average. On this street, 1,155 sq. ft. ranks in the bottom 30%. Citywide, it falls around the middle (top 55%). It’s a typical size for a 1960s bungalow, not unusually small, but not generous by current standards.
3. What’s the lot actually like?
The land area is 6,650 sq. ft., which is above average for the neighbourhood (top 25%) and well above average citywide (top 20%). It’s a good-sized urban lot—bigger than many post-war bungalows in the area, though not oversized.
4. Why is the assessed value so much lower than the neighbourhood average?
The house is smaller and older than most in Westwood (top 96% for age, meaning most nearby homes are newer). Assessed value reflects both the structure and the land. Here, the structure is dragging the total down, even though the lot itself is above average. The house likely hasn’t been updated in a way that would push its assessed value higher.
5. Would this be a good property for a renovation or addition?
Possibly. The lot is large enough to accommodate an addition without crowding the property line. The house itself is structurally from a solid building era. That said, any serious renovation should start with a structural inspection and a check on zoning setbacks for the lot. The low assessed value relative to the land suggests there is latent value in improving the house, but it depends on the condition of the foundation, roof, and mechanicals.