This 1,040 sqft bungalow, built in 1964, sits on a 5,120 sqft lot at 390 Whitegates Crescent. Relative to its peers, the property is smaller than average in both living area and lot size. Its assessed value of $316,000 is notably below the street and neighbourhood averages. The appeal here is straightforward: this is likely one of the more affordable entry points into Westwood. For a buyer who prioritizes location and a lower price point over square footage or a premium lot, this property offers a chance to get into a solid, established neighbourhood at a below-market entry cost. It would suit first-time buyers who are handy or willing to renovate, investors looking for a lower-cost rental with equity potential, or anyone who values a smaller footprint and lower property taxes over a "move-in ready" finish.
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The property is smaller than most others on the street. Does that affect its resale value?
While it sits in the bottom percentile for living area and lot size on Whitegates Crescent, being smaller doesn't automatically kill value—it just means the ceiling price is lower. It will always be a bargain relative to larger homes nearby. The key is making sure it's priced correctly for its size, not the neighbourhood average. The lower assessment already reflects this gap.
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Is the low assessed value a warning sign or an opportunity?
It's generally a reflection of the property's size and condition relative to the area. For a buyer, a lower assessment typically means lower property taxes. The downside is that the property likely needs some updating or is simply smaller than neighbours. If the structure is solid, the low assessment gives you a margin—you're not paying top dollar for someone else's renovations.
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The house was built in 1964. What should I check first?
In a home of this vintage, the major systems are the primary concern. Plan for a thorough inspection focusing on the original electrical (likely knob-and-tube or early breaker panels), plumbing (galvanized or copper condition), and windows (original steel frames can be energy inefficient). The concrete foundation and the condition of the roof are also worth a close look. Older doesn't mean bad, but these are the cost areas.
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How does the lot size affect everyday use?
At just over 5,100 sqft, it's a standard small urban lot. You'll have a yard, but it won't be large. Think manageable garden beds and modest outdoor seating rather than a sprawling lawn for kids to run on. A smaller lot means less mowing and maintenance, which some buyers actually prefer.
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Is Westwood a good area for an older, smaller home?
Westwood is a well-established, largely residential area in Winnipeg, known for its mature trees and mix of post-war housing. It's a stable neighbourhood. For an older home that is on the smaller side, you're banking on the location—proximity to amenities, good streets, and a solid community feel. The trade-off is you'll likely have to invest in updates rather than getting a "finished" house, but the location gives the investment a strong floor.