123 Addison Crescent – Property Summary
Key Characteristics & Buyer Profile
This is a 1963 home with 1,059 sqft of living space on a 5,122 sqft lot. Its assessed value is $371,000. The property performs best on assessed value relative to its immediate street, ranking in the top 27% on Addison Crescent, where the average assessment is $361,000. However, the lot is smaller than typical for both the street and the Westwood neighbourhood. Living area is below average locally but roughly in line with citywide norms for comparable homes.
The appeal here is pragmatic. You’re getting a home that holds its value well compared to neighbours, in a Westwood setting that is not unusual for Winnipeg. It does not stand out for size or land, which may keep the price more accessible than bigger properties nearby. This would suit a buyer looking for a solid, modestly sized home in an established area—someone less concerned with having a large yard or extra square footage, and more focused on a property that is competitively priced relative to its assessed value. It could also work for an investor or first-time buyer wanting entry into a stable neighbourhood without paying a premium for space they may not need.
Five Possible FAQs
1. The assessed value is above average on the street but around average for the city. What does that mean for property taxes?
Taxes are based on the assessed value. Since the assessment is above the street average but close to the citywide median, your taxes should be typical for a home of this value in Winnipeg. You are not in a notably high-tax tier locally, but the property is valued more than some of its immediate neighbours.
2. The lot is smaller than most in Westwood. Is that a problem?
It depends on what you want. If you plan to garden, build a large deck, or have extensive outdoor space, the 5,122 sqft lot could feel tight—most lots in the neighbourhood are around 6,500 sqft. But smaller lots often mean less maintenance and lower yard costs. It also means the home itself may be priced lower than comparable homes with larger land.
3. The living area is below average for the street. Does that make it a harder resell?
Not necessarily. The street has a mix of sizes, and this home ranks in the bottom quarter locally. However, citywide it is close to average. The key for resale will be how the interior is laid out and maintained. Smaller homes can sell well if they are efficient, well-kept, and priced accordingly.
4. The home was built in 1963. Are there any typical issues to watch for?
Homes of this era often have original mechanical systems (furnace, electrical) or windows that may need updating. Insulation standards were lower then. It is worth checking if major systems have been replaced. That said, many 1960s homes in Winnipeg are structurally sound, with good bones—just budget for potential upgrades.
5. How does this property compare to others in the neighbourhood analysis map?
The neighbourhood analysis page lets you see exact comparisons for year built, square footage, assessed value, and lot size on a map. This property tends to be smaller on land and living area than many nearby homes, but it is priced competitively. The map will show whether that pricing reflects actual sale values or just assessments.