This is a 1,152-square-foot home built in 1947 on a 7,158-square-foot lot with an assessed value of $512,000. Its strongest feature is its age—it’s the oldest home on its street (top 4%) and significantly older than most homes citywide (top 76%), which often appeals to buyers looking for pre-war construction, established neighborhoods, and mature landscaping. The assessed value also stands out: while it’s roughly average for its street and neighborhood, it ranks in the top 18% citywide, indicating a relatively high-value property compared to the broader Winnipeg market.
The appeal lies in the lot size versus living space. The house itself is below average for its street and neighborhood in terms of square footage, but the land is notably generous—above average citywide in a city where lot sizes are shrinking. This suggests potential for expansion, renovation, or simply the value of outdoor space in an established area. The property sits in Wildwood J Park, a neighborhood with an average year built of 1950, meaning it’s surrounded by similarly aged homes that have held their value.
This home would suit a buyer who prioritizes land and location over a move-in-ready interior. It’s a good fit for someone comfortable with renovation or customization—either expanding the existing footprint or updating an older home in a desirable pocket of the city. It’s less suited for someone seeking a larger, turnkey modern house, as the living area trails behind both street and neighborhood averages. The combination of older construction, modest interior size, and a generous lot makes it a classic “good bones” candidate.
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What does “Top 79%” mean for living area on this street?
It means that among the 24 comparable homes on Wildwood J Park, this one is ranked 19th, so 18 homes are larger and only 5 are smaller. It’s on the smaller end for the street, which is consistent with its age and could explain the lower living area if the house has never been expanded.
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Why is the assessed value high citywide but average locally?
The neighborhood average assessed value is $568,200, which is already well above the citywide average of $390,100. So the home’s $512,000 is slightly below the local median but still relatively high in the broader market. This often reflects the value of the location and land rather than the house itself.
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Is the land size a big advantage?
Yes, but context matters. At 7,158 square feet, it’s the third smallest lot on its street (top 79%) and well below the neighborhood average of 9,032. However, citywide, it’s in the top 16%, meaning most Winnipeg homes sit on smaller lots. So it’s a trade-off: generous by city standards, but not particularly large for this specific area.
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Should the 1947 construction year worry me?
It depends on your expectations. Older homes can have charm, solid materials, and established neighborhoods, but they may also require updates to electrical, plumbing, insulation, or foundations. Given that this home is the oldest on the street, it’s worth a thorough inspection. The fact that the neighborhood average is 1950 suggests many homes have been updated or well-maintained.
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What does “around average” really mean in the rankings?
The rankings use a percentile system based on comparable homes. “Around average” typically means the property falls near the 40th to 60th percentile. For example, the assessed value on this street is ranked 10 out of 24 (top 42%), so it’s slightly above the street median of $504,500. The citywide ranking is much stronger (top 18%) because the reference group is larger and includes many lower-value homes.