119 Addison Crescent – Property Summary

Key Characteristics & Buyer Profile

This is a 1,202 sqft bungalow built in 1963 on a 5,122 sqft lot in Winnipeg’s Westwood neighbourhood. Its assessed value is $356,000.

What stands out is how consistently average the property is across every metric. On its own street, in the neighbourhood, and citywide, the living area, assessed value, and year built all fall within the middle range of comparable homes. The one clear exception is the lot size: it's notably smaller than the neighbourhood average, ranking in the bottom 7% of Westwood properties.

The appeal here is pragmatic rather than flashy. You’re getting a solid, mid-century home in a well-established area without paying a premium for standout features. It’s a straightforward entry into a stable Winnipeg neighbourhood. The smaller lot could mean less maintenance, but it also limits expansion potential compared to neighbouring properties.

This would likely suit first-time buyers looking for a practical, move-in-ready home in a mature area, or someone downsizing who wants a manageable yard and doesn’t need extra space. It’s less ideal for buyers seeking a large lot for renovations, additions, or gardening, since those are harder to come by here.

Frequently Asked Questions

1. How does the smaller lot size affect the property’s value or resale potential?
In Westwood, where larger lots are the norm (average 6,491 sqft), this 5,122 sqft lot is a clear outlier. That could be a drawback for buyers wanting yard space, but it also means lower upkeep costs and less outdoor work. Resale may take slightly longer if buyers in this area typically expect more land, but the home’s otherwise average stats keep it competitive at a lower price point.

2. Is the assessed value of $356,000 accurate or likely to change?
The assessment aligns closely with the street average ($361,000) and is about 9% below the neighbourhood and citywide averages. Unless major renovations are done or the market shifts significantly, this value appears stable. It’s worth noting that assessments don’t always reflect current market conditions, so a local realtor’s opinion would be more useful for pricing.

3. What’s the condition of the home given it was built in 1963?
No condition details are provided here. Homes from this era often have original mechanicals (furnace, electrical, plumbing) that may need updating, as well as potential asbestos in insulation or flooring. A thorough home inspection would be essential to assess the roof, foundation, and major systems.

4. How does the property compare to others currently listed in Westwood?
On the surface, it’s priced below both the neighbourhood and citywide assessed averages. Combined with its smaller lot, this likely places it at a lower price point than many Westwood listings. However, without knowing the specifics of comparable active listings, it’s hard to say if it’s a deal or simply priced for its size and age.

5. What’s the neighbourhood like in terms of schools, transit, and amenities?
Westwood is an established residential area with a mix of older and updated homes. It generally has good access to schools, parks, and shopping along Portage Avenue. Transit service is reasonable. Specific details about this property’s immediate block aren’t included, so a drive-by and a look at nearby services would be worthwhile before making an offer.