302 Lock Street – Property Summary
Key Characteristics & Buyer Profile
This is a 933 sqft home built in 1940, sitting on a 2,623 sqft lot in the Weston neighbourhood of Winnipeg. Its assessed value is $184,000.
The property’s appeal is subtle but real. On its own street, this home ranks in the top 19% for living area and top 34% for lot size—meaning it’s one of the roomier, more generously-landscaped options directly in its immediate block. That street-level advantage is a quieter selling point than neighbourhood-wide or citywide stats. Most buyers scan for citywide averages and walk away; but for someone who actually values being above average among their closest neighbours—on a street with homes built mostly around 1956—this property offers a better interior footprint than many of its immediate peers.
At the neighbourhood level, the home is solidly average in size, value, and era. Citywide, it falls below median on all counts—but that’s misleading if you’re cross-shopping within Winnipeg’s older, central neighbourhoods, where mid-century stock dominates and lots are smaller.
This property suits: A first-time buyer or small family who wants an older home with decent indoor space and a yard, but without paying a premium for a huge lot or a renovated, top-tier finish. Someone who cares more about being well-sized relative to neighbours than hitting citywide medians. Also a buyer willing to invest sweat equity—the data suggests the home is not pushing above its price point, so there’s room to add value.
Five Possible FAQs
1. How does this home compare to others on Lock Street specifically?
It outperforms most of its immediate neighbours in living area (top 19%) and sits above average for lot size (top 34%). Its assessed value is also above the street average. So among the 32 homes on Lock, this is one of the larger, more valuable properties.
2. The citywide stats look low. Should I be worried?
Not necessarily. Citywide averages include newer subdivisions with much larger homes and lots—often 1,300+ sqft and 6,500+ sqft lots. That’s a different market. Within Weston (an older, established area), this property is near the middle of the pack. The low citywide rank mostly reflects the era and location, not the home’s condition.
3. Is the 1940 build date a concern?
It’s older than the street average (1956) and significantly older than the citywide average (1966). That’s worth a thorough inspection for wiring, plumbing, foundation, and insulation. But within Weston, the average home was built in 1937—so this property is actually newer than many of its neighbourhood peers. It’s typical for the area.
4. How was the assessed value of $184,000 determined?
The city’s assessment compares this home to similar properties at the street, neighbourhood, and city level. It’s slightly above the street average ($173.9k) and almost exactly in line with the neighbourhood average ($184.7k). This suggests the valuation is reasonable and not inflated.
5. What’s the land like at 2,623 sqft?
It’s smaller than the street and neighbourhood averages, but still ranks top 34% on the street itself—meaning neighbours’ lots are often even smaller or comparable. Citywide, it’s well below average, but again, that’s driven by new subdivisions. For Weston, this is a typical in-city lot size, suitable for gardening, a small shed, or outdoor seating.