198 Wordsworth Way – Property Summary

Key Characteristics & Buyer Profile

This 1962 bungalow on Wordsworth Way offers 992 square feet of living space on a 4,064-square-foot lot, with an assessed value of $291,000. The property ranks in the bottom quartile or lower across nearly every metric when compared to nearby homes. On its own street, it sits near the bottom for living area (97th percentile, meaning it’s smaller than 97% of neighbors) and land area (90th percentile). The lot is roughly 60% the size of the street average. The house itself is typical for the street in terms of age—built in 1962, which aligns with the neighbourhood’s median build year.

Where this property stands out is its relative affordability. The assessed value is about 22% below the street average and 25% below the neighbourhood average. For a buyer who values location over square footage or who plans to renovate, the lower price point creates a clear entry into Westwood—a neighbourhood where most homes are significantly more expensive and sit on larger lots.

This property would suit:

• A first-time buyer looking for a lower-cost entry into a well-established Winnipeg neighbourhood.
• An investor or renovator seeking a smaller footprint with potential to add value through updates or expansion.
• Someone who prioritizes location over interior space—perhaps a downsizer or a buyer who values the street or school district over having a large home.

Five FAQs

1. How does the property’s size compare to other homes in the area?
The living area (992 sqft) and land area (4,064 sqft) are both well below the street and neighbourhood averages. It’s among the smallest homes on Wordsworth Way and in Westwood. If you’re used to newer suburbs with larger lots, this will feel compact.

2. Is the assessed value close to what I’d actually pay?
Assessed value ($291,000) is a baseline, not a market price. In a competitive market, this property could sell above assessment—but given its small size and lot, it’s unlikely to compete with the $370k–$390k average homes nearby. It’s better to view this as a price floor than a ceiling.

3. What does the “year built” data mean for maintenance?
At 62 years old (1962), this home is typical for the street. Expect original or aging systems—furnace, roof, electrical, plumbing—unless they’ve been upgraded. A thorough inspection is wise. The age also means character details (like hardwood floors or solid construction) but potentially less energy efficiency than newer builds.

4. Why is the land area so much smaller than the neighbourhood average?
Many homes on Wordsworth Way and in Westwood were built on larger lots (averaging 6,500+ sqft). This property’s 4,064-sqft lot is noticeably smaller—possibly a remnant from a subdivided parcel or an irregularly sized plot. It’s one of the smallest lots in the neighbourhood (Top 99%), so outdoor space is limited.

5. What are the downsides of buying a home that ranks “below average” across these metrics?
The main trade-off is resale potential and comparability. If you ever need to sell, buyers in Westwood typically expect larger homes and lots. That doesn’t make it a bad buy—but it does mean you’re buying a non-standard property for the area. The upside is lower entry cost and potentially less competition from families seeking more space. For a single person, couple, or investor, that could work well.