101 Addison Crescent, Winnipeg

Key Characteristics & Buyer Profile

This 1963 bungalow sits on a 5,634 sqft lot in Winnipeg’s Westwood neighbourhood, with 1,220 sqft of living space and an assessed value of $433k. What stands out here is the value-to-size disparity: the home’s assessed value ranks in the top 3% on its street (and top 19% in the neighbourhood), while its living and land areas hover closer to average. That suggests the lot location or property condition is driving the valuation more than sheer square footage—a subtle but useful distinction for buyers who care about land value or future renovation potential rather than just floor plan size.

The home is older (built in 1963), but in a city where many comparables are from the mid-60s, it’s not an outlier. The land area is slightly below the Westwood neighbourhood average but above the citywide median for comparable homes, meaning you’re getting a moderately-sized lot by local standards.

This property would suit a buyer who values a solid, mid-century home in an established neighbourhood, with potential to update over time. It’s less ideal for someone seeking turnkey, large living spaces or a brand-new build. The strong assessed value relative to street peers could also appeal to someone looking for a property that’s already holding its value well in that immediate area.

Five Frequently Asked Questions

1. How does the assessed value compare to the street average, and what might that mean for property taxes?
The assessed value of $433k is about 20% above the street average of $361k, and well above both the neighbourhood and city medians. Since property taxes are based on assessment, you can expect above-average taxes relative to other homes on Addison Crescent, though actual rates depend on the city’s mill rate and budget.

2. Is the living area small for a home of this era in Westwood?
No—it’s around average. While the street and city rankings are middle-of-the-pack, the 1,220 sqft figure is typical for a 1960s bungalow in this part of Winnipeg. Buyers looking for larger modern open-concept layouts may find it limited, but for the era, it’s standard.

3. Why is the assessed value so much higher than the street average if the house isn’t larger or newer?
That’s the interesting part. The ranking (#2 on street) suggests the property has something other homes lack—perhaps a finished basement, updated mechanicals, a desirable lot shape, or a corner location. It’s worth checking the condition of comparable homes nearby; this property may have been better maintained or upgraded in ways not visible in raw size alone.

4. What does the “Top 67%” ranking for land area in the neighbourhood mean?
That means 67% of similar homes in Westwood have larger lots than this one. So at 5,634 sqft, the lot is on the smaller side for the area, where the average is 6,491 sqft. It’s not tiny, but if you’re looking for a large yard or space for an addition, this property is more average than generous.

5. Is this a good candidate for renovations?
It could be, depending on your goals. The land and living area are unremarkable for the street, but the assessed value suggests the bones or location are solid. If the house is structurally sound, you could potentially add value by expanding the living area or modernizing finishes—but the lot size limits major footprint growth. A lighter renovation (kitchen, baths, finishes) would likely be more realistic than a full addition.