3120 Assiniboine Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1960-built home with 1,587 sq ft of living space, sitting on a notably large 20,998 sq ft lot. The property’s strongest feature is its land: it ranks in the top 1% city-wide for lot size, and in the top 1% within the Westwood neighbourhood. The assessed value of $558,000 is above average for Winnipeg (top 12%) and significantly above the Westwood average of $392,000, reflecting the premium placed on large lots in the area.
The appeal lies in the land. For buyers who value outdoor space, privacy, or the potential for future expansion or redevelopment (subject to zoning), this lot offers something rare inside the city. The house itself is mid-sized for its street but larger than average for the neighbourhood and city, though it was built in 1960, making it older than many surrounding homes. This isn’t a turnkey modern property—it’s a home where the value is weighted toward the land, not the structure’s age or finishes.
This property suits buyers who:
- Prioritize a large, established lot over a new or renovated house
- Are comfortable with an older home and may plan renovations or a custom build
- Want space for gardens, workshops, or outdoor activities without leaving the city
- Are looking in Westwood for its relative affordability compared to more central neighbourhoods, while still being close to amenities
It is less suited for those wanting a move-in-ready home with modern layout and updated systems, or for buyers who see a 1,587 sq ft home as too small for the lot size.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value is driven primarily by the lot size. Westwood’s average assessed value is $392,000, but typical lots are around 6,500 sq ft. At 20,998 sq ft, this property’s land is roughly three times larger than average, which pushes the total assessment well above the neighbourhood norm. The house itself contributes less to the value than the land.
2. Can the house be expanded or rebuilt on this lot?
That depends on current zoning and setback requirements, which are not listed here. However, a lot this size in an established residential area like Westwood often allows for additions, a secondary dwelling (if permitted by current zoning), or a full rebuild. A buyer should verify with the city’s planning department before assuming what’s possible.
3. How does the 1960 build year affect the property?
Homes from the 1960s are common on this street, but the property is older than most in Westwood (average build is 1966) and the city overall. This typically means original mechanicals, windows, and insulation may need updating. It also means the house may not have the open floor plan or master suite layout many buyers expect. The upside is that older construction often uses solid materials and is located on well-established streets with mature trees.
4. Is this a good investment for land banking in Winnipeg?
Large lots in established neighbourhoods are relatively scarce, especially those ranking in the top 1% city-wide. Over time, land in desirable areas tends to appreciate, and a lot of this size offers flexibility if future zoning changes allow denser development. However, Westwood is not a high-demand infill neighbourhood like Wolseley or River Heights, so appreciation may be more gradual. It’s a long-term hold rather than a quick flip.
5. How does this property compare to others on Assiniboine Avenue?
The lot is significantly larger than average on the street (20,998 sq ft vs. the street average of 10,920 sq ft), placing it in the top 8%. The house itself is slightly smaller than the street average for living space (1,587 sq ft vs. 1,763 sq ft), but the assessed value is slightly above the street average, again reflecting the land premium. It’s a standout on the street for its yard, not its house size.