Key Characteristics & Buyer Profile
This is a 1,033-square-foot home built in 1962 on a 5,670-square-foot lot on Byrd Avenue in Westwood, Winnipeg. Its standout feature is the building year—it’s the newest property on its street, ranking in the top 5% locally. While the house itself is slightly smaller than average for the street, neighbourhood, and city, the lot size holds close to the local norm, offering a decent footprint without being oversized.
The appeal here is practical rather than flashy. You’re getting a home that was built well after many of its neighbours, which may mean fewer major structural surprises compared to older stock—but it’s not brand-new by any means. The assessed value sits below the neighbourhood and city averages, which keeps the property tax relatively modest. For someone looking to enter a stable, middle-aged residential area without paying a premium for size or trendiness, this fits.
This property would suit a first-time buyer or a small family who prioritizes a newer build over square footage, and who doesn’t need a showpiece lot. It’s also a reasonable option for an investor seeking a rental with lower carrying costs in a well-established area. The data suggests you’re buying into a street where this home is a slight outlier in age (newer) and size (smaller)—worth checking if those differences translate to a quieter resale niche or a harder sell down the line.
Five Possible FAQs
1. How does the property’s smaller living area affect its long-term value?
On this street, it’s 63 square feet below the average. In Westwood, the gap is wider—about 339 square feet below the neighbourhood norm. That means future buyers will likely compare it against larger homes nearby. However, its newer construction may offset that because some buyers prefer updated layouts over raw space. If you keep the interior efficient and well-maintained, resale should hold, but don’t expect it to outperform larger units on the same block.
2. Is the property tax low compared to similar homes?
Yes. The assessed value is $312,000, which is below the street average ($327,000) and well under the neighbourhood average ($392,000). Across Winnipeg, it sits in the lower half of assessments. That keeps annual taxes manageable, but it also means the home isn’t gaining value as fast as nearby properties. It’s a trade-off—lower carrying costs now, but slower equity growth in a rising market.
3. What’s the land actually like, and does it limit expansion?
The lot is 5,670 square feet—right around the street average and slightly smaller than the Westwood norm. It’s not a tight lot, but you won’t have room for a massive addition or a deep backyard without careful planning. If you were hoping to build a garage or extend the living space, check local setback rules before committing. It’s workable, but not generous.
4. Why is the 1962 build year a potential advantage here?
Most homes on Byrd Avenue date to 1961 or earlier, and the neighbourhood average is 1966. That means 40 Byrd was built during a period when construction standards shifted (e.g., better insulation, foundation techniques). It’s not modern, but it’s newer than the immediate neighbours, which can mean fewer updates needed for things like wiring or roofing. Just don’t assume it’s move-in ready—always inspect.
5. How does this home compare to others in Westwood that are priced similarly?
Westwood’s average assessed value is $392,000, so this home is about 20% below that. That puts it in a price tier where you’ll often find older, larger homes or newer, smaller ones. Compared to similarly assessed properties in the area, 40 Byrd offers a newer build and a reasonable lot, but less interior square footage. If you value a smaller space that may need less immediate repair, it’s a strong pick. If you need room to grow, look higher.