Property Summary: 463 Raquette Street

Key Characteristics & Buyer Profile

This is a 1,027 sqft home built in 1961 on a 5,126 sqft lot in Winnipeg’s Westwood neighbourhood. Its main appeal is straightforward: it’s priced below both the street average ($317k vs. $344k) and the neighbourhood average ($392k), making it one of the more affordable options in the area. The lot size is close to the street average, though smaller than typical Westwood lots, and the assessed value ranks around the citywide midpoint (top 66%).

What stands out here is the trade-off. The home’s living area and age are below average compared to nearby properties—it ranks in the bottom quartile on its street for square footage, and the 1961 build date is slightly older than the median for Westwood (1966). In practical terms, this likely means a smaller floor plan and potentially more dated interiors than what’s common in the neighbourhood. However, because of that, the price point is relatively accessible for someone who wants to be in Westwood but can’t compete with higher-priced listings.

This property suits buyers who are comfortable with a smaller home and willing to invest in updates over time. It’s not ideal for someone seeking move-in-ready space or a “best in class” lot. Instead, it works for first-time buyers, small families, or anyone prioritizing location and budget over square footage and turnkey condition. The below-average assessed value also suggests property taxes may be slightly more manageable than the neighbourhood norm.

Frequently Asked Questions

1. How does this home compare to others on Raquette Street?
The home is smaller (1,027 sqft vs. the street average of 1,197 sqft) and was built slightly earlier (1961 vs. 1963 average). Its lot size is roughly average for the street (5,126 sqft vs. 5,345 sqft), but its assessed value is lower ($317k vs. $344k). So it’s a more affordable option on the street, but with a smaller footprint.

2. Is this property a good deal for the Westwood neighbourhood?
Compared to Westwood averages, the home is well below the typical assessed value ($317k vs. $392k) and has less living space and a smaller lot than most neighbouring properties. It’s priced to reflect that—so if you’re comfortable with a compact home, it offers relatively good value for the area.

3. What should I expect in terms of renovation or updating?
Given the 1961 build and the below-average living area relative to the neighbourhood, it’s reasonable to expect that the interior may have older finishes and smaller rooms. A home inspection would clarify the condition, but buyers should anticipate potential updates to systems (electrical, plumbing, HVAC) and possibly cosmetic renovations to bring it in line with modern standards.

4. How does the lot size affect the property’s usability?
The 5,126 sqft lot is close to the street average but smaller than Westwood’s typical lots (6,491 sqft average). That means less yard space—fine for lower maintenance, but not ideal if you need room for gardens, a large shed, or outdoor entertaining. Still, it’s not unusually small citywide (top 51%).

5. Are there any hidden advantages to this home compared to others?
One less obvious angle: the below-average assessed value may mean lower property taxes relative to neighbours, which can add up over time. Also, because the home ranks lower on living area and year built, there may be less competition from buyers who prioritize those features—potentially giving you more negotiating room. The street itself (Raquette) also trends older and smaller, so the home fits the local character rather than standing out as an outlier.