119 Penfold Crescent

119 Penfold Crescent – Property Summary

Key Characteristics & Buyer Profile

This is a 1967 bungalow-style home with 1,024 square feet of living space and a 5,775-square-foot lot, located in Windsor Park, Winnipeg. Its most distinctive feature is the year built: while the home is roughly average for its street and the city overall, within the Windsor Park neighbourhood it ranks in the top 5% for age. This means it’s one of the older, more established homes in an area where many properties were built earlier—giving it a sense of character and stability that newer infill homes often lack.

The assessed value sits at $344,000, which is below the street average ($389,900) and slightly below the neighbourhood average ($354,200). The living area is similarly modest—smaller than most homes on the same street and slightly below the citywide average for comparable properties. The lot is about average for the area, not oversized but functional.

Where the appeal lies is in the combination of a decent-sized lot, solid age (indicating older construction methods and mature landscaping potential), and a price point that undercuts many nearby properties. It’s not a standout in square footage or land size, but it offers an entry point into a well-ranked neighbourhood (Top 5% for vintage) without paying a premium for a fully renovated or expanded home.

This property would suit a buyer who values neighbourhood character over interior space, and who is willing to invest in updates or additions over time. It’s a good fit for first-time buyers looking for a solid shell in a desirable area, or for someone who prefers an older home with good bones rather than a cookie-cutter renovation. It may also appeal to investors or flippers, given the below-average street valuation and potential for value-add through a functional renovation.

Frequently Asked Questions

1. How does this property compare to others on Penfold Crescent?
It ranks near the bottom for both living area (Top 85%) and assessed value (Top 85%) on this street, meaning it’s smaller and less expensive than most neighbours. The lot is close to average, and the year built is also typical for the street. So it’s one of the more modest homes on the block.

2. Is the neighbourhood itself considered desirable or up-and-coming?
Windsor Park is a well-established central Winnipeg neighbourhood. The property’s year built ranks in the top 5% locally, which suggests the area has a mix of older and newer homes. The assessed value ranks in the top 64%—around average—so it’s not a high-priced pocket, but it’s not a bargain district either. It’s stable, with no strong signs of rapid change.

3. What does “Top 5%” for year built in the neighbourhood actually mean?
It means that out of 3,307 comparable homes in the Windsor Park area, only 166 are older than this one (built in 1967). That puts it in the top tier for age within the neighbourhood. Most nearby homes are newer, though the neighbourhood average is 1961, so there are plenty of older homes too. It’s not unique, but it’s older than the vast majority.

4. Would this property be a good candidate for an addition or renovation?
Possibly. The lot is average-sized (5,775 sqft), so there’s room to expand if zoning allows. The living area (1,024 sqft) is below street and city averages, so adding square footage could align it more with its neighbours. The relatively low assessed value also suggests there’s room to increase value through improvements, though you’d want to check local permit history and any restrictions first.

5. How accurate is the assessed value compared to recent sale prices in the area?
Assessed value is a benchmark used for property tax, not necessarily market value. On this street, the average assessment is $389.9k, and this home is assessed at $344k—roughly 12% below. If similar homes on Penfold are selling for around their assessed value, you might expect this one to come in under that street average. But actual sale prices depend on condition, upgrades, and market timing.