46 Braewood Place — Property Summary

Key Characteristics & Buyer Profile

This 1,200-square-foot home, built in 1977, sits on a 4,741-square-foot lot in Winnipeg’s Westdale neighbourhood. Its standout feature is the year built: on the street and within the neighbourhood, it ranks among the newest homes (top 5% on Braewood Place, top 1% in Westdale). The living area is generous for the street and neighbourhood—ranked top 5% and top 11% respectively—but falls slightly below the citywide average for comparable homes. The assessed value ($240,000) is notably lower than the street, neighbourhood, and city averages, which may reflect a less updated interior or smaller overall footprint compared to peers. The land area is close to average at all three levels.

The appeal here is a combination of newer construction relative to the surrounding area and a price point that sits below many neighbouring properties. The home offers more square footage than typical homes on the same street, but the assessed value suggests it may not have been renovated as recently, or that finishes are more modest. This could appeal to buyers looking for a solid, relatively young structure in a desirable older neighbourhood, with room to invest in updates over time. It would suit someone who values being on a top-ranked street for living space and newer build quality, but is comfortable taking on cosmetic or functional improvements. It may be less attractive to buyers seeking a turnkey property or one that already reflects peak neighbourhood value.

Five Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbourhood average when the home is newer and has more living space?
Assessed value reflects both the physical structure and market conditions, but it’s also influenced by the condition of the home, recent sales of similar properties, and the overall desirability of the specific location within the neighbourhood. A newer build with larger square footage can still appraise lower if finishes are dated, there are no major recent upgrades, or if comparable sales on the street have been lower. The gap here is worth investigating through a property inspection and recent sales data for the immediate block.

2. Does “top 1% for year built” mean this is one of the newest homes in the entire neighbourhood?
Yes, within Westdale, only 10 out of 1,460 comparable homes are newer. That’s an unusually high ranking. For context, most homes in the area were built in the early 1970s or earlier, so a 1977 build is relatively recent. This could mean better insulation, updated electrical standards, and fewer of the structural issues common to older homes—but it doesn’t guarantee modern finishes or systems.

3. The land area is described as “around average”—is that a concern?
Not necessarily. The lot is 4,741 square feet, which is typical for the street and neighbourhood. It’s not oversized, but it’s also not small. For many buyers, an average-sized lot in an established neighbourhood is a positive: less maintenance, and still enough space for a garden, shed, or small deck. If you’re looking for a large yard for additions or landscaping, this would be limiting.

4. How does this property compare to others on Braewood Place specifically?
On its street, this home is ranked #1 for living area and year built—essentially the largest and newest home on the block. However, it has the lowest assessed value on the street. That’s an unusual combination and signals that while the structure itself is newer and bigger, something about its condition, layout, or market position is holding its value back relative to neighbours. A buyer should look closely at how the interior compares to other homes on the street.

5. Is this a good fit for a first-time buyer or an investor?
It could work for both, but for different reasons. A first-time buyer might appreciate the larger-than-average living space and newer build, provided they have budget left for updates. An investor might see potential in the value gap: buy below the street average, renovate selectively, and bring the assessed value closer to the neighbourhood median. That said, the lower assessed value isn’t a guaranteed upside—it depends on whether the market will reward those improvements in this specific location.