132 Addison Crescent – Property Summary

Key Characteristics & Buyer Suitability

This is a 1,064-square-foot bungalow built in 1963 on a 6,326-square-foot lot in Winnipeg’s Westwood neighbourhood. Its strongest asset is the lot: it ranks in the top 14% on the street and top 25% city-wide for land area, meaning the yard is noticeably bigger than most nearby properties. The assessed value sits at $364,000, which is around average for the street but slightly below the neighbourhood and city medians. The living area is below average for both the street (ranked 51 out of 59) and the neighbourhood, but roughly average for Winnipeg as a whole.

The appeal here is less about the house itself and more about the land. A buyer looking for a solid, older home with room to expand, garden, or build a garage or workshop would find this lot a real advantage. It’s a practical choice for someone who doesn’t need a large interior right now but values outdoor space and may want to renovate or add square footage later. It also suits buyers who want to be in Westwood without paying a premium for a fully updated house—this property’s value is in what it could become, not what it already is.

Five Possible FAQs

1. How does the interior size compare to other homes in the area?
   It’s on the smaller side. The living area is below the street and neighbourhood averages, but it’s right around the typical size for a city-wide home of this era. If you’re used to newer, open-concept layouts, this will feel compact.

2. Is the assessed value a fair reflection of the property’s condition?
   Not necessarily. The assessed value is close to the street average but lower than the neighbourhood median. That could mean the house is more original or needs updates compared to nearby renovated homes, but it also reflects the smaller living area. The lot is the undervalued piece here.

3. Would this property be a good candidate for a renovation or addition?
   Possibly yes. The larger-than-average lot gives you more flexibility than most houses on the street. You’d want to check zoning and setback rules, but a larger lot often allows for a side or rear addition without crowding the property.

4. How does the year built compare to homes that have been recently updated?
   The 1963 build is typical for this street and neighbourhood—most homes in the area were built in the mid-1960s. It’s not unusually old, but it is the kind of house where you’d expect original mechanical systems, windows, and finishes unless they’ve been replaced.

5. What kind of buyer would get the most value out of this home?
   Someone who prioritizes outdoor space over interior square footage, or a buyer comfortable with a fixer-upper who sees the lot as the primary investment. It’s also a strong option for someone who wants to buy into Westwood at a lower entry point and build equity through improvements.