381 Speers Road – Property Summary
Key Characteristics & Buyer Profile
This is a 1,033-square-foot bungalow built in 1963 on a 4,573-square-foot lot in Winnipeg’s Windsor Park neighbourhood. Its assessed value is $289,000.
The property’s main appeal lies in its age and location rather than its size or lot. The home was built earlier than most comparable properties on the street and in the neighbourhood—ranking in the top 34% on Speers Road and top 19% within Windsor Park. For buyers who prefer the character and construction quality of older homes, this stands out as a relatively early build in an area where most houses went up around 1961.
That said, the living area is below both the street and city averages, and the lot is notably small—ranking in the bottom 4% on Speers Road and bottom 4% in the neighbourhood. The assessed value reflects this, coming in well below local and citywide medians. The trade-off is a lower entry price for a home in an established neighbourhood, rather than paying a premium for square footage or land.
This property would suit a buyer who values a modest, manageable footprint and is less concerned with having a large yard or maximum living space. It could be a good fit for someone downsizing, a first-time buyer looking for an affordable entry into a mature neighbourhood, or an investor seeking a lower-cost property with potential for gradual upgrades. It is less suited to families needing room to grow or anyone who prioritizes outdoor space.
Five Possible FAQs
1. How does this home compare to others nearby in terms of value?
The assessed value of $289,000 is significantly below the street average of $365,100 and the neighbourhood average of $354,200. On Speers Road, it ranks in the bottom 10% for value. Buyers should expect a lower price point than most homes in Windsor Park, but also a smaller living area and lot.
2. Is the small lot a dealbreaker for resale?
For some buyers, yes. The lot is well below average for both the street (7,802 sqft) and neighbourhood (6,030 sqft). However, a smaller lot often appeals to buyers who want less yard maintenance. The key is that the home’s price already accounts for this—it’s priced well under comparable homes in Windsor Park.
3. What does the “year built” ranking tell me about the home’s condition?
The home was built in 1963, which is earlier than the street average (1960) but notably older than the citywide average (1966). This doesn’t necessarily mean poor condition—it depends on maintenance and updates. The ranking suggests you’re buying into an older stock of homes, which may have solid construction but could also need more frequent repairs or upgrades than a newer build.
4. How does the living space compare to a typical home in Winnipeg?
At 1,033 square feet, this home is about 23% smaller than the average comparable home citywide (1,342 sqft). Within Windsor Park, it’s slightly below the neighbourhood average of 1,091 sqft. It’s a compact layout—functional for one or two people, but tight for a family.
5. What’s the neighbourhood like?
Windsor Park is an established Winnipeg neighbourhood with a mix of post-war bungalows and later infill. The area generally has average living space and assessed values that are slightly below citywide medians. This home sits on a busier street (Speers Road), which may be a factor for some buyers. The low assessed value relative to the neighbourhood suggests the home itself (not just the lot) needs attention or updates to reach local pricing.