117 Addison Crescent – Property Summary
Key Characteristics & Buyer Fit
This is a 1,482 sqft bungalow built in 1964, sitting on a 5,122 sqft lot in Winnipeg’s Westwood neighbourhood. Its assessed value is $356,000. The home’s main appeal is its living space: it’s comfortably above average on its street (top 12%) and within the neighbourhood (top 29%), offering more interior room than many nearby homes of the same era. The lot, however, is on the smaller side—well below the neighbourhood average and among the smallest on the street. That trade-off is the defining feature here: you get above-average indoor space on a below-average piece of land.
The property suits buyers who prioritize square footage over yard size. It would work well for someone looking for a solid, moderately sized family home in a established area, without paying a premium for a large lot. It’s less suited to anyone wanting gardening space, room for an addition, or a property that stands out on land area alone. The assessed value sits around the middle of the pack at every level, suggesting the pricing is reasonable for what’s offered—neither a steal nor overpriced relative to comparable homes.
Five Possible FAQs
1. How does the smaller lot affect long-term value?
A smaller lot can limit expansion options and may not appreciate as quickly as larger properties in the same area. However, it also means less maintenance and lower property taxes. For resale, the living area tends to matter more to buyers than lot size in this price range, so the interior square footage could offset the land disadvantage.
2. Is the year built a concern for maintenance?
1964 is typical for Westwood, so the home is among many of similar age. Structural issues are possible, but the average assessed value suggests no major red flags compared to neighbors. Focus on what’s been updated (roof, windows, mechanicals) rather than the construction year alone.
3. Why is the assessed value “around average” when the living area is above average?
Assessed value reflects a combination of factors: living area, lot size, condition, location, and recent sales. A smaller lot and potentially dated finishes can pull the value down even if the interior is spacious. The home may have good bones but not commanding features that push the price higher.
4. How does this property compare to newer homes in Winnipeg?
This is a mid-century home in a mature neighbourhood. It will have different construction materials and layout styles (likely fewer open-concept spaces) than newer builds. Buyers should expect solid construction but possibly smaller closets, less insulation, and an older floorplan. The living area is still competitive citywide (top 32%), but the lot is noticeably tighter than average.
5. What’s the best way to evaluate this home in person?
Pay attention to the layout’s efficiency: 1,482 sqft in a 1964 bungalow often means defined rooms rather than great rooms. Check for natural light and ceiling height, which can make the space feel larger or smaller than the number suggests. Also look at the yard—5,122 sqft can feel very different depending on whether it’s mostly front or back, and whether it’s fenced or usable.