Overview

This 1,219-square-foot home on Bluewater Crescent in Winnipeg’s Niakwa Place area was built in 1973 and sits on a 3,584-square-foot lot. Its assessed value of $291,000 is notably below the neighbourhood average.

Key characteristics. The living space is slightly above the street average (1,179 sq. ft.) but falls short of the broader Niakwa Place norm (1,490 sq. ft.). The land size is on the smaller side for the area, ranking in the bottom 13% locally. The year built—1973—puts it among the older homes on the street, though not unusually old for the neighbourhood. The assessed value is significantly lower than both the street median ($360,000) and the area median ($446,800), meaning the property is priced modestly relative to its surroundings.

Where the appeal lies. The main draw here is value. For buyers who want to be in Niakwa Place—a stable, mature Winnipeg neighbourhood—without paying the premium that many homes there command, this property represents a lower entry point. The above-average living area for the street also suggests more interior space than some neighbours, despite the smaller lot. It’s a pragmatic choice, not a flashy one.

Suitable buyers. This home would likely suit first-time buyers looking for a solid, affordable foothold in an established area, or downsizers who want less yard maintenance but aren’t ready for a condo. Investors might also take note: the assessed value gap relative to the area suggests room for value-add renovations or a lower-cost entry into a neighbourhood with otherwise high property values. It’s less suited for someone seeking a large lot or a turnkey modern home.

Frequently Asked Questions

1. How does the living space compare to other houses in Niakwa Place?
It’s about 18% smaller than the average home in the broader area (1,490 sq. ft.), but slightly larger than the typical house on Bluewater Crescent itself. So you’re getting a reasonable amount of space relative to your immediate neighbours, even if it’s compact for the neighbourhood at large.

2. Why is the assessed value so much lower than the area average?
The combination of a smaller lot (bottom 13% in Niakwa Place), an older construction year, and a more modest living area likely accounts for most of the gap. The area average of $446,800 is pulled upward by larger, newer, or more extensively updated homes—this property doesn’t compete on those fronts.

3. Is a 1973 build a concern?
It depends on maintenance history. Homes from that era are generally well-built but may have older systems (furnace, windows, roof). The ranking shows it’s older than most on the street, so a buyer should budget for updates. It’s not a fixer-upper by default—just worth a careful inspection.

4. How does the lot size affect usability?
At 3,584 sq. ft., the lot is small by Niakwa Place standards (bottom 13%). That means less yard work and outdoor maintenance, but also limited space for expansions, large gardens, or play areas. For someone prioritizing indoor square footage over outdoor space, it’s a reasonable trade-off.

5. Would this property be a good renovation project?
Potentially, yes. The gap between the assessed value ($291,000) and the area average ($446,800) indicates that strategic updates—kitchen, bathroom, curb appeal—could lift the home’s value significantly. However, keep in mind the smaller lot will always cap upside relative to neighbours with more land. It’s a solid candidate for a targeted, not extravagant, renovation.