This 704 sqft home, built in 1949 on a 2,623 sqft lot, ranks modestly against its neighbours and the broader Winnipeg market. Its appeal isn't in size or prestige—it’s a compact, older property that sits well below citywide averages for living space and land. The assessed value of $199,000 is around average for the street and the Weston neighbourhood, which suggests the home is priced in line with local conditions, not inflated by broader market trends. That combination—below-average footprint, above-average year built for the neighbourhood—means a buyer gets a relatively newer structure (compared to the local 1937 average) without paying for a large property. This would suit someone looking for a smaller, manageable home in an established area, likely a first-time buyer, a downsizer, or an investor eyeing a lower entry point. The street-level rankings (top 34% for value, top 34% for land) hint that this home offers decent value relative to its immediate neighbours, even if it’s not competitive citywide.
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How does the home’s size compare to similar properties in Weston?
Its 704 sqft is below the neighbourhood average of 936 sqft, ranking it in the bottom 25% locally. It’s a compact space, not typical for the area.
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Is the assessed value of $199,000 a reliable indicator of market price?
It’s a useful benchmark. On Lock Street, that figure is slightly above the street average of $173,900, and it falls near the neighbourhood average ($184,700). Citywide, values are much higher ($390,100 average), reinforcing that this home is priced for its specific local market.
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Why is the year built (1949) considered “above average” for the neighbourhood?
Many homes in Weston date back to the 1930s (neighbourhood average is 1937). A 1949 build is newer by over a decade, which may mean updated construction standards or systems, though it’s still an older home by city standards.
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The land area is 2,623 sqft. Is that small or typical for the street?
It’s slightly below the street average of 2,941 sqft, but ranks in the top third for Lock Street. The lot is modest compared to citywide averages (6,570 sqft), which is common for older urban infill areas.
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What does the “top 34%” ranking for assessed value on the street actually mean?
It means this home’s assessed value is higher than 66% of comparable homes on Lock Street. In other words, it’s in the upper third for value locally—but still in the bottom 8% citywide, reflecting how much larger and more expensive homes are elsewhere in Winnipeg.