7 Reynolds Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1,064 sqft home built in 1965 on a 5,452 sqft lot, with an assessed value of $358,000. What sets it apart is its position relative to the street it sits on. On Reynolds Bay itself, this property ranks among the older homes (3rd oldest out of 12) and has one of the larger lots (4th largest). However, its living area is the smallest on the street, and the assessed value sits close to the street average.
The appeal here is subtle. This isn’t a flashy property—it’s a solid, modest home on a street where other homes are generally larger and newer. That dynamic could mean more breathing room in terms of outdoor space compared to similar-priced homes in denser parts of Westwood. The lot size is a genuine standout: while the average lot in the neighbourhood is nearly 6,500 sqft, this property’s 5,452 sqft is well above city averages and sits comfortably among the larger lots on its street.
This property would suit a buyer who values a decent-sized yard over interior square footage, and who isn’t intimidated by a home that may need updates (given its age and relatively lower assessed value per square foot). It’s a good fit for someone who sees potential in a less competitive street within Westwood, where comparable homes are priced similarly but offer less land. It may also appeal to buyers who want to avoid the premium typically attached to larger, newer homes in this part of Winnipeg, while still being in a neighbourhood with solid citywide rankings across most metrics.
Five Possible FAQs
1. How does the home’s size compare to other properties nearby?
The living area (1,064 sqft) is below the Westwood neighbourhood average of 1,372 sqft, and it’s the smallest on Reynolds Bay itself. However, the lot size (5,452 sqft) is above the citywide average for comparable homes and is one of the larger lots on the street.
2. Is the assessed value reasonable given the neighbourhood?
The assessed value ($358,000) is nearly identical to the street average ($356,400) but significantly below the Westwood neighbourhood average ($392,100). This suggests the home is priced in line with its immediate street but offers a relative discount compared to much of the surrounding area.
3. Could this property be a good candidate for renovations?
Possibly. The home is mid-1960s construction, and its lower living area relative to the lot could mean expansion potential (subject to local zoning and permits). The land value appears to be a stronger asset than the building itself, which is often attractive for buyers considering a reno or even a teardown.
4. How does the street compare to others in Westwood?
Reynolds Bay is a small street with only 12 comparable homes. This property ranks near the bottom for living area but near the top for lot size and age. It’s not a street where homes are uniformly large or new, so it offers a mix of older, more modest properties alongside larger ones—giving buyers options at different price points.
5. What does the “Top X%” ranking actually mean?
These rankings show how this property compares to similar homes within each geographic level (street, neighbourhood, city). For example, a “Top 33%” ranking for land area on the street means it has a larger lot than about 67% of comparable homes on Reynolds Bay. The fill colour on the ranking bar indicates the tier (e.g., above average, around average, below average), and “Avg” refers to a rough median for that group.