55 Foxberry Bay – Property Summary
Key Characteristics & Target Buyer
This is a 720 sqft home, built in 1972, on a 3,512 sqft lot in the Westdale neighbourhood of Winnipeg. Its key characteristic is its size: the living area is notably compact, ranking in the bottom tier compared to the street, the community, and the city as a whole. The lot is also smaller than typical for the area and city. The assessed value sits near the average for the street but well below citywide medians.
The property’s appeal lies in its entry-level affordability within a stable, established neighbourhood. Because its price (as reflected by the assessment) is closely aligned with the street average, and the home itself is older but not unusually so, it likely represents a lower-cost way into the area. It wouldn’t suit buyers looking for generous space or a large yard. Instead, it fits someone who prioritizes location and budget over square footage—perhaps a first-time buyer, a downsizer, or someone willing to live with a compact footprint in exchange for a lower purchase price and property tax base. The data suggests you’re buying into the Westdale market, not the house’s dimensions.
Frequently Asked Questions
1. The living area ranks very low. Is this home unusually small?
Yes, in context. At 720 sqft, it’s about 25% smaller than the average home on its own street and roughly 46% smaller than the citywide average. It’s one of the smallest homes in the neighbourhood.
2. How does the property's assessed value compare to others?
It’s close to the average for Foxberry Bay (around $269K) but falls below the Westdale community average ($307K) and well below the citywide average ($390K). This suggests the home is priced competitively for its immediate street, though the area itself is moderately priced compared to the rest of Winnipeg.
3. Is the home considered old?
Not particularly. Built in 1972, it aligns almost exactly with the median build year for the street (1972) and the community (1971). It’s slightly newer than the citywide median of 1966, so it falls in a typical middle-aged bracket for Winnipeg housing stock.
4. Would this property be a good investment for a buyer wanting to renovate?
Potentially, if the structure is sound. The compact size means lower renovation costs, and the below-average lot size (3,512 sqft vs. the street average of 4,103 sqft) may limit major additions. The appeal would be improving an asset in a desirable Westdale location rather than expecting significant land appreciation.
5. How does the lot size affect the property's value?
The lot is smaller than typical for the street (ranked 22nd out of 54) and the community. This often means less outdoor maintenance, but it also reduces the ceiling for future resale value compared to larger neighbouring lots. For a buyer who doesn’t need a big yard, this trade-off can be practical.