202 Wildwood A Park – Property Summary

Key Characteristics & Ideal Buyer Profile

This is a 1,152-square-foot home on a 7,198-square-foot lot, built in 1947. Its assessed value is $470,000.

The property’s standout feature is its land. City-wide, the lot size ranks in the top 15% — notably larger than the Winnipeg average of 6,570 square feet. The home itself is older (1947), which places it among the earlier-built homes in its immediate street and neighborhood, but older than the city average. The living area is below average for both its street and neighborhood, though roughly average for Winnipeg overall. The assessed value holds steady relative to nearby homes but rises to the top 25% city-wide, reflecting the land’s influence more than the structure’s size.

The appeal here is subtle. For a buyer who values outdoor space, privacy potential, or the ability to expand or redevelop, the lot offers flexibility that many newer or smaller properties can't match. The home itself is modest in size, which could suit someone looking for a manageable footprint without sacrificing yard space. It may also appeal to buyers interested in an older character home in an established area, provided they're prepared for the maintenance that comes with a 1940s build.

This property would best suit:

• Buyers prioritizing lot size over interior square footage.
• Those open to renovation or future expansion.
• People who prefer an established, mature neighborhood over new subdivisions.
• Investors or homeowners looking for land value in a city where larger lots are increasingly rare.

Frequently Asked Questions

1. How does this property's living area compare to similar homes nearby?
On its street, the home is below average: the typical home in Wildwood A Park has about 1,448 square feet. Within the broader Wildwood neighborhood, the average is 1,657 square feet. City-wide, however, the average comparable home is 1,342 square feet, so it's slightly smaller than the city norm but not dramatically so.

2. Is the assessed value of $470,000 reasonable for this area?
Yes — it's around the middle of the pack for its street (average $499,300) and slightly below the neighborhood average of $568,200. But city-wide, it ranks in the top 25%, meaning it's valued higher than most comparable homes in Winnipeg. The value is likely supported by the large lot rather than the home's size or age.

3. What does the "year built" ranking tell me about this home's condition or history?
The home was built in 1947, making it one of the older homes on its street (top 20%) and in the neighborhood (top 19%). City-wide, it's actually older than about three-quarters of homes. This doesn't directly indicate condition, but it does suggest the property may have original features or older systems that could require updating. A thorough inspection is advisable.

4. Why is the land area ranking so much stronger than the living area ranking?
The lot is 7,198 square feet — larger than 85% of lots city-wide. In contrast, the home's living area is below average in both its street and neighborhood. This mismatch is common in older neighborhoods where homes were built smaller but on generous plots. The land's value often appreciates separately from the structure, which is likely why the assessed value still ranks well.

5. Is this property a good candidate for renovation or adding square footage?
Potentially, yes. The large lot offers room for an addition or secondary structure, depending on zoning and setback rules. However, because the home is older, any renovation should account for possible structural, electrical, or plumbing updates. Buyers interested in expanding should also check whether the neighborhood has heritage or design restrictions that could limit changes.