293 Rouge Road – Property Summary

Key Characteristics & Buyer Profile

This is a 1,176 sqft home built in 1965 on a 3,526 sqft lot, located in Winnipeg’s Westwood neighbourhood. Its assessed value is $236,000.

The property’s main appeal lies in its affordability. The assessed value sits well below both the street average ($351,500) and the neighbourhood average ($392,100), ranking in the bottom 2% on the street and bottom 1% in the area. This suggests a significant price gap relative to nearby homes, which could appeal to buyers looking for a lower entry point in a more established area.

The living area is around average for the street, neighbourhood, and city, so there are no surprises in terms of size. The year built (1965) is also typical for the area. However, the land area is notably small—3,526 sqft ranks in the bottom 3% on the street and bottom 1% in the neighbourhood. This is the property’s most distinctive constraint.

This property would best suit: A buyer who prioritizes a lower purchase price over a large yard or lot; someone who sees potential in a home that needs updating or wants to build equity in a middle-aged neighbourhood; or a downsizer who values a modest footprint in a well-established area, not someone looking for space to expand or a large outdoor area.

Frequently Asked Questions

1. Why is the assessed value so much lower than the averages for the street and neighbourhood?
The data shows the home is ranked #123 out of 125 on its street by assessed value. This typically reflects a combination of the smaller living area (1,176 sqft vs. the street average of 1,263 sqft) and, more significantly, the very small lot (3,526 sqft vs. a street average of 5,481 sqft). Condition and interior finishes may also play a role, but the raw numbers suggest the lot size is the primary factor.

2. Is this a good investment if the assessed value is so low?
That depends on your goals. A low assessed value can mean a lower purchase price, which may offer room for appreciation if the neighbourhood continues to rise. However, the small lot limits what you can do in terms of additions or major expansions. This is more of a “buy and hold for cash flow” or “modest starter home” scenario than a “flip for maximum profit” one.

3. How does the small lot affect daily living and resale?
The lot is roughly half the size of the average lot on the street. That means very limited outdoor space for gardening, entertaining, or children’s play. On resale, the small lot will narrow your buyer pool—most families or buyers looking for a yard will likely look elsewhere. It’s a trade-off that suits buyers who want less maintenance, not more.

4. What’s the typical condition of homes built in 1965 in this area?
Homes from this era in Westwood often have original mechanical systems (furnace, electrical, plumbing) and may need updating. The data doesn’t speak to condition directly, but a $236,000 assessment in a neighbourhood averaging $392,000 strongly suggests the property either has deferred maintenance, original finishes, or the small lot is heavily discounting the price. A home inspection will be crucial.

5. What does “Top 52% citywide” for living area actually mean?
It means this home’s living area is slightly smaller than the midpoint for comparable homes across Winnipeg. In practical terms, it’s an average-sized home by city standards. The more striking comparison is the lot size ranking—Top 81% citywide means 81% of city homes have larger lots. So while the house itself is typical, the land it sits on is well below average.