79 Franklin Bay – Property Summary
Key Characteristics & Buyer Profile
This is a 1996-built home in Winnipeg’s Westwood neighborhood, with 1,560 sqft of living space on a 5,599 sqft lot. Its assessed value sits at $527,000.
The property stands out most for its age relative to the surrounding area. It’s among the newest homes in Westwood—ranking in the top 1% by year built, where the neighborhood average is 1966. This means you’re getting a structure that’s roughly 30 years newer than most nearby houses, which can mean fewer major updates needed upfront compared to a typical Westwood fixer-upper.
The living space and lot size are both close to street-level averages for Franklin Bay, but they edge above neighborhood and citywide norms. The lot is slightly smaller than the Westwood average, but the living area is above average for both the neighborhood and the city. The assessed value reflects that relative strength—it’s well above the neighborhood average ($392k) and ranks in the top 6% locally.
What’s less obvious: Because the home is a newer build in an older neighborhood, you’re likely paying a premium for the house itself rather than the land. The lot is average-sized for the street but below the neighborhood norm—so the value is tied more to the condition and age of the structure. This can be a good thing if you want less maintenance and don’t need a large yard, but it also means you have less land equity to build on if the area continues to appreciate.
Who it suits: Buyers who want a move-in-ready home in an established, older neighborhood without taking on a major renovation. It’s also a fit for those who prioritize a newer build and energy efficiency over a large lot. Less ideal for someone looking for a big garden or planning to expand the footprint later.
Frequently Asked Questions
1. How does this property’s size compare to others nearby?
The living area (1,560 sqft) is slightly below the average on Franklin Bay (1,634 sqft) but above the neighborhood average (1,372 sqft) and city average (1,342 sqft). The lot (5,599 sqft) is below the neighborhood average (6,491 sqft) but close to the street average (5,887 sqft).
2. Is the assessed value reasonable for the area?
Yes. At $527,000, it’s above the neighborhood average of $392k and ranks in the top 6% of Westwood. This suggests the home is valued more highly than most nearby properties, likely due to its newer construction.
3. What condition is a 1996 home typically in compared to older Westwood homes?
Westwood’s average build year is 1966, so this home is about 30 years newer. That means it’s less likely to have outdated wiring, plumbing, or foundations common in older homes. However, it’s still nearly 30 years old, so systems like the roof, furnace, and windows may need attention soon depending on maintenance history.
4. Is the lot large enough for additions or a detached garage?
At 5,599 sqft, the lot is functional for most standard uses but not oversized. Adding a significant extension or accessory building might be tight depending on setbacks. It’s best suited for someone who’s happy with the existing footprint.
5. How does this home compare to new construction in the same price range?
New builds in Winnipeg at this price point are often in developing suburbs or have smaller lots and less established neighborhoods. This property offers a larger lot and a more mature, central location (Westwood) than most new subdivisions at $527k—but it’s not brand new. You’re trading absolute newness for more space and a better location.