340 Speers Road — Property Summary
Key Characteristics & Buyer Profile
This is a 1962-built home with 967 square feet of living space on a notably large 7,049-square-foot lot. The property sits in Winnipeg’s Windsor Park neighbourhood, and the numbers tell a mixed story. The living area is below average by all comparisons — street, neighbourhood, and citywide — ranking only in the top 77–84% depending on scope. In plain terms, it’s a compact house. The assessed value of $372,000, however, is above the neighbourhood average by a noticeable margin (top 28%), while being roughly average for the street and city overall.
Where the property stands out is the land. The lot is above average both within Windsor Park (top 12%) and across Winnipeg (top 17%). This is the kind of home where you’re paying for the dirt more than the square footage. The house itself is from the early ’60s, around average for the street and slightly older than the citywide average, but newer than much of the surrounding neighbourhood.
The appeal here is opportunistic. This property likely suits a buyer who values outdoor space, wants room for a shop, garden, or expansion, and is comfortable with a smaller floor plan — at least for now. It could also appeal to someone looking to renovate or rebuild, given the lot size and Windsor Park’s relative affordability compared to more central Winnipeg neighbourhoods. It’s less suited to a buyer who needs generous interior space right away or wants a move-in-ready home with modern finishes.
Five Frequently Asked Questions
1. How does the living area compare to other homes nearby?
It’s smaller than most. On Speers Road, it’s ranked 87th out of 104 homes. The average on the street is 1,149 square feet, so this property is roughly 180 square feet below that. Neighbourhood and city comparisons show a similar gap.
2. Is the assessed value a good indicator of market price?
Not directly. The assessed value of $372,000 is used for property tax purposes, not as a listing price. It is above the neighbourhood average by about $18,000, which reflects the large lot more than the house itself. Market value depends on current demand, renovation costs, and what similar lots sell for.
3. Why is the land area so much larger than typical homes in the area?
At 7,049 square feet, the lot falls in the top 12% of Windsor Park and top 17% citywide. This suggests the property may have been part of an earlier subdivision with deeper or wider lots, before newer infill developments began using smaller parcels.
4. What should a buyer consider regarding the year built?
The house was built in 1962, which is typical for this street and slightly older than the city average. Buyers should budget for potential updates to mechanical systems (furnace, electrical, plumbing) and insulation, as homes of this era often lack modern efficiency standards.
5. Who is this property not a good fit for?
It’s probably not right for someone who needs a large open-concept main floor, multiple bedrooms on one level, or a finished basement with high ceilings. It’s also less ideal for buyers who want a turnkey home in a newer subdivision with uniform styling.