Property Summary

Key Characteristics & Target Buyer

This is a 1,070 sqft single-family home built in 1961, sitting on a 5,126 sqft lot at 459 Raquette Street in Winnipeg’s Westwood neighbourhood. The assessed value is $317,000.

Where the appeal lies: The property lands in a practical middle ground. The living space and lot size track close to the street average, but the assessed value sits noticeably below both the neighbourhood ($392,000) and city ($390,000) medians. That gap—combined with a 1961 build that’s older than the area norm—means the property likely needs cosmetic or mechanical updates. For a buyer comfortable with some work, the lower entry price could offer more room to add value than a move-in-ready home at a higher assessment would.

What type of buyer it suits: Someone looking for a solid shell in a well-established neighbourhood, without paying a premium for someone else’s renovations. First-time buyers with a bit of sweat equity to invest, or investors seeking a property with below-market basis in a stable area. It’s less suited to anyone wanting turnkey finishes or a newer build without compromises.

Five Frequently Asked Questions

1. How does the property compare to others on the same street?
The home is slightly below average in size and assessed value compared to other houses on Raquette Street. It ranks 88th out of 139 for living area and 117th out of 139 for assessment. The lot, however, is closer to the street median—ranked 59th—so the yard is more competitive than the house itself.

2. Is the assessed value a reliable guide to market price?
Assessed value is based on city-wide formulas and lagging data, not current market conditions. In Westwood, where the average assessment is $392,000, this property’s $317,000 figure reflects its smaller size, older construction, and likely need for updates. It’s a useful starting point for comparison, but not a direct substitute for a recent appraisal or comparative market analysis.

3. How does the land size compare, and does it matter for this property?
The 5,126 sqft lot is about average for Raquette Street but significantly smaller than the Westwood neighbourhood norm of 6,491 sqft. That means the property offers less outdoor space than many nearby homes, but not less than what’s typical on the immediate street. For buyers wanting a garden or room to expand, the yard is workable but not generous by local standards.

4. What does the home’s age suggest about its condition?
Built in 1961, the house is older than the average Westwood home (1966) and roughly average for the street. Homes from that era often have solid construction but may have original mechanicals, windows, or roofing. A property at this assessment level often hasn’t had major system updates in the last decade. Any offer should be contingent on a thorough home inspection focused on the roof, electrical, plumbing, and furnace.

5. Is this a good fit for someone looking to resell in a few years?
Potentially, if the buyer can buy below market and make targeted improvements. The assessed value is well below the neighbourhood average, meaning there’s theoretical room for upward movement. However, the smaller lot and older build limit ceiling potential compared to a fully updated home on a larger site. Profitability would depend on buying at the right price and completing renovations that align with what Westwood buyers actually want—not over-improving for the street.