54 Cascade Bay

Key Characteristics & Buyer Profile

This is a 1960-built, 948-square-foot single-family home in the Windsor Park neighbourhood of Winnipeg, situated on a 6,194-square-foot lot. Its assessed value is $345,000.

The property’s strongest asset is its land. At 6,194 square feet, the lot is in the top 27% city-wide, meaning it offers more outdoor space than most comparable properties across Winnipeg. The home itself is close to the average size for houses on the same street but slightly smaller than the Windsor Park and city averages. Its 1960 construction year is notably the newest on its street, though it aligns closely with typical homes in the broader neighbourhood and city.

The appeal here is not a turnkey, move-in-ready home with premium finishes. Rather, it lies in the land-to-value ratio. A buyer is getting a lot that ranks well above average, paired with a home that is priced near the median for its area. This often suits someone who is comfortable with a smaller or older home and is either looking for a more affordable entry point into a solid central neighbourhood, or is considering a future renovation or redevelopment where the lot size provides flexibility. It may also appeal to someone who simply values a larger yard in a mature area, without paying a premium for a larger house.

Five Possible FAQs

1. Why is the house smaller than the average for Windsor Park, but priced close to the average?
The assessed value (a proxy for market value) is primarily driven by the land, not just the structure. The lot here is larger than many in the area, and land value is a significant portion of overall assessment. You are paying for the outdoor space, not just the square footage inside.

2. Does the “newest on the street” ranking for build year mean the home has been recently renovated or is in better condition?
No, not necessarily. "Build year" refers to original construction date (1960). The ranking simply means this was built later than most other houses on Cascade Bay, which are slightly older (average 1959). It does not tell you if any renovations, updates, or major repairs have been done. A thorough home inspection is still crucial.

3. How does this compare to other 1960s homes in Winnipeg?
The home’s build year is very typical for the city as a whole (average 1966 for comparable homes). Windsor Park itself has a mix of slightly older and similar-aged homes. You should expect characteristics common to that era, such as a smaller floor plan, a basement that may be unfinished or dated, and potential maintenance items like old windows, plumbing, or electrical.

4. Could I eventually subdivide or build a secondary suite on this lot?
The lot is 6,194 square feet, which is large enough to warrant investigation, but zoning rules in Windsor Park will ultimately determine what is possible. You would need to check city bylaws regarding minimum lot sizes for subdivision, and any restrictions on secondary suites, setbacks, or density. A large lot is a good starting point, but it does not guarantee development potential.

5. Why does the house rank only in the middle of the street for assessed value, but the land ranks in the top quarter city-wide?
That's exactly the point. The address ranks 35th out of 50 on its own street for total assessed value (the house is near the average for the street). But the lot ranks in the top 27% of all properties in Winnipeg. The house itself is nothing exceptional value-wise; the standout feature—and the reason to consider the property—is the land underneath it.