224 Cullen Drive – Property Summary
Key Characteristics & Buyer Profile
This is a 720 sqft home built in 1973 on a 3,342 sqft lot, with an assessed value of $257,000. What stands out here is not the size or the land—both are significantly below average for its street, neighbourhood, and the city—but the year built. Ranked #1 out of 97 homes on Cullen Drive, it is the newest property on the block, which gives it a structural and maintenance advantage over neighbouring houses that average around 1971 construction.
The appeal is twofold. First, for buyers who want a newer foundation, roof, and mechanicals timeline without paying for a full renovation, this offers that peace of mind. Second, the below-average living area and land mean the price point is relatively accessible compared to larger homes in Westdale, a desirable Winnipeg neighbourhood. The assessed value sits well below both the street and city averages, making it a more affordable entry point into an area where many properties carry a premium.
This property suits first-time buyers who prioritize location and move-in readiness over square footage, or downsizers who want a compact, newer build in a stable neighbourhood. It also appeals to investors looking for a lower-cost asset in a strong local market, with potential for future value growth tied to the land and neighbourhood, not the house size.
Frequently Asked Questions
1. How does this home compare to others on Cullen Drive?
It’s the newest house on the street (ranked #1 by year built), but it has the smallest living area and one of the smallest lots. Its assessed value is also below average for the street, reflecting the smaller footprint.
2. Is Westdale a good neighbourhood for resale?
Westdale is a well-established area in Winnipeg with stable demand. The home’s smaller size may limit its buyer pool, but its newer construction and lower price point can attract a specific segment that larger, older homes cannot.
3. Why is the assessed value so much lower than the city average?
The citywide average assessed value for comparable homes is $390,100. This property is valued at $257,000, mainly because it has less living space (720 sqft vs. 1,342 sqft city average) and a smaller lot (3,342 sqft vs. 6,570 sqft). It’s not a sign of poor condition—it’s a size-driven difference.
4. What does “Top 1%” for year built actually mean?
It means that out of 97 homes on Cullen Drive, this one was built more recently than 96 of them. In practical terms, you’re likely to deal with fewer aging-house issues like old plumbing, wiring, or roofing compared to neighbours.
5. Is the small lot a disadvantage?
For someone wanting a large yard or garden space, yes. But a smaller lot typically means less maintenance, lower property taxes, and a more affordable purchase price. It also puts the house closer to neighbours, which some buyers prefer for community feel or efficiency.