Here is a clean, standalone summary of the property based on the data provided.
Key Characteristics & Buyer Profile
This is a 1,020 sqft home built in 1963 on a 5,174 sqft lot, located at 509 Bedson Street in Winnipeg’s Westwood neighbourhood. Its assessed value is $359,000.
The property’s main appeal lies in its value proposition relative to the street. While the living area is smaller than the street, neighbourhood, and city averages, the assessed value is right in line with the street average ($359.2k) and slightly below the neighbourhood average ($392.1k). This suggests the price reflects the smaller square footage rather than a premium for the area. The lot size is also close to the street average, though it’s notably smaller than typical Westwood lots.
This would likely suit a buyer looking for a reasonably priced entry point into a specific street or area, who is willing to accept a more compact living space. It may also appeal to someone who values the specific location or character of Bedson Street over having the largest home in the neighbourhood. The below-average ranking for living area (89th percentile on the street) and year built (80th percentile) indicates this is a more modest, older home compared to its direct neighbours.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
The assessed value of $359,000 is right around the average for homes on Bedson Street. However, it is below both the Westwood neighbourhood average ($392k) and the citywide average for comparable homes ($390k). This means the pricing is competitive for the street but represents a lower-cost option within the broader neighbourhood and city.
2. Is the living space considered small for this area?
Yes. At 1,020 sqft, the home is below average for its street (average 1,222 sqft), its neighbourhood (average 1,372 sqft), and the city as a whole (average 1,342 sqft). It ranks in the bottom 11% for living area on Bedson Street specifically.
3. What is the age of the property, and how does it compare?
The home was built in 1963, making it older than the average home on the street (built 1966). It is also older than the neighbourhood and city averages for similar homes. This places it in the older quarter of properties on the street.
4. How large is the lot?
The lot is 5,174 sqft. This is slightly smaller than the Bedson Street average (5,651 sqft) and noticeably smaller than the Westwood neighbourhood average (6,491 sqft). It ranks in the bottom 16% for lot size within the neighbourhood.
5. Would this property be considered a good investment for a first-time buyer?
That depends on priorities. The low living area relative to price could mean fewer competing buyers, which might allow for a reasonable purchase price. The older build may also require some updates or maintenance. However, the assessed value being close to the street average suggests the market has already factored in the smaller size, rather than expecting significant depreciation. It could be a solid entry point for someone willing to accept a smaller home in an established area.