Property Summary: 47 Henday Bay
Key Characteristics and Buyer Profile
This 1,218-square-foot bungalow, built in 1962, sits on a 6,409-square-foot lot in Winnipeg’s Westwood neighbourhood. The property’s most distinguishing feature is its assessed value of $390,000—ranking in the top 20% on its street and above the local average of $369,100. This suggests the home has held or gained value relative to immediate neighbours, which can point to updates, a desirable location within the street, or simply market momentum in that pocket of Westwood.
The land area is above average citywide (top 24%), offering a yard that’s generous by Winnipeg standards, though it falls slightly below the street average of 6,800 square feet. The living area is close to typical for the street and city, meaning the appeal isn’t square footage but rather the balance of lot size, location, and assessed value.
The year built (1962) is older than the neighbourhood and city averages (both 1966), but on its own street, it ranks among the earliest (top 8%). This can indicate a more established character home or one that’s part of the original development phase of the street.
Who it suits: Buyers looking for a solid, older home on a good-sized lot in a well-ranked Westwood location, where the property’s value already sits above its immediate peers. It may appeal to those who prioritize outdoor space and a strong value position relative to the street, rather than a move-in-ready modern interior or expansive living area. First-time buyers or downsizers who don’t need a huge house but want a decent yard and a stable investment profile should take a closer look.
Five Possible FAQs
1. How does the assessed value compare to similar homes in the area?
The property is assessed at $390,000, which is above the street average of $369,100 (top 20% on Henday Bay) and close to the neighbourhood average of $392,100. Citywide, it sits near the median for comparable homes.
2. Is the lot size considered large for Winnipeg?
Yes, the 6,409-square-foot lot ranks in the top 24% citywide and top 31% within Westwood. It’s slightly below the street average of 6,800 square feet, but still notably larger than many properties across the city.
3. How old is the house, and does its age affect its value?
Built in 1962, it’s one of the older homes on Henday Bay (top 8% for age on the street). While it’s older than the neighbourhood average (1966), its above-average assessed value suggests the age hasn’t been a drag on price—likely due to maintenance, updates, or location advantages.
4. What’s the living area like compared to other homes nearby?
At 1,218 square feet, the living area is slightly below the street average (1,296 sqft) and neighbourhood average (1,372 sqft). It’s roughly mid-range citywide. This is not a large home, but in a market where lot size and location often matter more than raw square footage, it can be a trade-off worth making.
5. How do the rankings work, and what do the colors mean?
The rankings compare this property to other “comparable homes” (similar type, age, or style) within the same street, neighbourhood, or city. A higher rank (lower number) is better. The bar fill length shows how many peers you outperform; colors indicate a tier (e.g., red for top performers, gray for average). The “Avg” shown is a rough median benchmark for that group.