47 Cortez Bay – Property Summary

Key Characteristics & Buyer Profile

This is a 1,380 sqft home built in 1969 on a 5,797 sqft lot, located in the Westwood neighbourhood of Winnipeg. Its standout feature is the construction year: on Cortez Bay, this property ranks #1 out of 35 homes for being among the newest, placing it in the top 3% on the street and top 8% in the neighbourhood. That means it benefits from modern building practices compared to most of its immediate neighbours, which average 1969 on the street and 1966 in the area. The home’s living area is above average for the street (beating 71% of comparable homes) but sits near the citywide average.

The assessed value of $378,000 is slightly below both the neighbourhood average ($392,100) and the citywide average for comparable homes, which may reflect a more conservative assessment or a slightly smaller lot. The lot itself is typical for the street but smaller than both the neighbourhood and city averages. For a buyer, this property’s main appeal is location relative to newer construction—it offers a relatively young home in an established area without paying a premium for a larger lot or inflated square footage. It would suit someone who values a solid, mid-century build with modest updates, prefers a street where the homes are consistent in age, and isn’t looking for a large yard. It also works well for buyers who want to avoid the uncertainty of an older house in a neighbourhood where most homes date from the mid-1960s.

Five Possible FAQs

1. How does the property compare to others on the street for value?
It’s fairly average. Ranked 18th out of 35 on Cortez Bay for assessed value, it sits right around the street’s median. You’re not overpaying for status on the block, but you’re also not getting a discount for a fixer-upper—it’s a straightforward middle-of-the-pack option.

2. Is the lot size a limitation or a benefit?
It depends on your needs. At 5,797 sqft, it’s slightly below the neighbourhood average and well below the city average for similar homes. If you want a deep garden or room for an addition, you may feel constrained. But if you prefer a manageable yard with less upkeep, it’s a practical size.

3. What does the “top 3% for year built” actually mean in real terms?
It means you’re buying one of the newest homes on this street, and one of the newer ones in Westwood overall. In a neighbourhood where the average home was built in 1966, this home avoids some of the common issues of older foundations, wiring, or layouts. It doesn’t guarantee modern finishes, but the underlying build is more recent than most of what’s around it.

4. Why is the assessed value lower than the neighbourhood average?
Assessed value is based on the city’s mass appraisal model, not market price. Factors include lot size, living area, year built, and recent sales of similar homes. Here, the smaller lot and living area that’s only around average for the area likely pull the assessment down, even though the newer build is an advantage. It could also mean the home hasn’t been updated recently enough to push the value up.

5. Where exactly is Westwood, and what’s the area like?
Westwood is a residential neighbourhood in the northwest part of Winnipeg, primarily developed in the 1950s and 1960s. It’s known for its mix of bungalows and split-levels, with mature trees and good access to parks and schools. Commuting downtown takes about 15–20 minutes by car. The area is stable but not trendy—it appeals to people who want a solid, no-fuss home in a middle-class, family-oriented setting.