Key Characteristics & Buyer Profile

This is a two-storey home at 315 Lock Street built in 2013—which puts it in an unusual position for the area. In a Weston neighbourhood where most houses date from the 1930s to 1950s, this property is significantly newer. It ranks in the top 6% on its street and top 5% in the wider community for construction year. That newness is likely the property’s strongest draw, especially for buyers who want a more modern structure without moving to a new subdivision.

The home offers 910 square feet of living space. On Lock Street, that’s above average (812 sqft average), putting it in the top 25% locally. But compared to the rest of Winnipeg, it’s below the citywide norm of 1,342 sqft. This is not a sprawling house. Its appeal lies in being compact, efficiently built, and situated on a modest 2,433 sqft lot—smaller than the neighbourhood average (3,269 sqft) and well below citywide lot sizes.

Its assessed value of $271,000 is high relative to the street and community, ranking 2nd on Lock Street and in the top 7% of Weston. That suggests the newer build and current condition are already reflected in the tax base. Buyers should expect a price point that reflects this local premium, not a bargain.

Who it suits: First-time buyers or small households who prioritize a newer, low-maintenance home in an established inner-ring neighbourhood. Also, those who value energy efficiency, modern building standards, and less yard work. It would be less suitable for families needing more square footage or a large backyard, or for investors looking for a lot with redevelopment potential—the land is small and the price per square foot of land is high relative to the area.

Five Possible FAQs

1. How does the size of this home compare to other houses in Weston?
It’s close to the neighbourhood average for living area (910 sqft vs. 936 sqft median), so it’s typical for the community. However, its lot is notably smaller than most nearby properties.

2. Is the assessed value of $271,000 an indicator of the market price?
Not directly. The assessed value is used for property tax calculation and lags behind market conditions. Given that this home ranks 2nd in assessed value on its street, it likely sits at a premium compared to older homes, but the actual sale price could be higher or lower depending on current demand and condition.

3. Why is the land so small compared to other homes in the area?
This is common for newer infill builds. Many older homes in Weston were built on larger lots. When a newer home replaces an old one, it often fits within a narrower footprint. If you want a big yard, this isn’t the property for you.

4. What are the risks of buying a newer home in an older neighbourhood?
You get modern construction and likely fewer immediate repairs, but the surrounding infrastructure—roads, sewers, nearby housing stock—is older. That can affect resale if the neighbourhood doesn’t see wider reinvestment. Also, the home’s higher relative value may not appreciate at the same rate as older homes during a market downturn.

5. How does the property rank within the city overall?
In terms of build year, it’s in the top 9% citywide, which is excellent. But for living area, it’s in the bottom 17%, and for land size, it’s in the bottom 3%. In short: it’s a newer, smaller house on a small lot, which is an uncommon combination in Winnipeg.