505 Bedson Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1,049-square-foot home built in 1962, sitting on a 5,174-square-foot lot in Winnipeg’s Westwood neighbourhood. The property’s most notable feature is its assessed value ($299,000), which ranks well below average on its street, in its neighbourhood, and citywide. This gives it the look of a value play—especially when compared to the street average of $359,200 and the neighbourhood average of $392,100.
The living area is also below average locally, but citywide it sits around the middle of the pack. The lot size is close to the street and city medians, though slightly smaller than the Westwood norm. The home is slightly older than the local average (built 1962 vs. 1966), but that’s a minor gap.
Where this property’s appeal lies is in affordability relative to its surroundings. It’s not a standout in size or lot—but the price gap suggests either an entry point into a neighbourhood that skews more expensive, or a property that needs some work. The buyer pool here is likely first-time buyers looking for a low entry cost in a stable area, or investors seeking a budget-friendly acquisition in a mid-tier Winnipeg neighbourhood. It’s not a turnkey dream home, but it could be a smart foot in the door.
Frequently Asked Questions
1. How does this home’s value compare to others on the same street?
It ranks #120 out of 122 homes on Bedson Street by assessed value—meaning only two other properties are lower. The average assessment on the street is about $359,000, so this home is roughly $60,000 below that.
2. Is the living space small for the area?
Yes, relative to the neighbourhood. At 1,049 square feet, it’s below the Westwood average of 1,372 square feet and ranks in the bottom 10% locally. However, it’s more in line with the citywide median, so it’s not unusually small by Winnipeg standards.
3. Why is the assessed value so much lower than the neighbourhood average?
That’s the defining feature of this property. It could be due to a smaller living area, an older finish level, or condition factors not captured in the data here. The gap is large enough that a buyer should investigate whether it reflects deferred maintenance or simply a modest home in a higher-value pocket.
4. How does the lot size compare?
The lot is 5,174 square feet—slightly smaller than the street average (5,651 sqft) and noticeably below the Westwood norm (6,491 sqft). It’s still close to the citywide median, so it’s not unusually cramped. It’s a typical urban lot, not a generous suburban one.
5. Would this property be a good fit for a first-time buyer?
Possibly, if the lower price reflects manageable condition. It offers a lower barrier to entry into Westwood, which generally has higher-valued homes. But buyers should budget for potential updates—especially if the assessment gap signals age-related issues. It’s not a move-in-ready premium property; it’s a starting point with room to build equity.