Property Summary: 493 Bedson Street

Key Characteristics & Buyer Profile

This 1,551 sqft home, built in 1962, sits on a 5,172 sqft lot in Winnipeg’s Westwood neighbourhood. Its standout feature is living space—it’s in the top 10% for size on Bedson Street and notably roomier than both the street and city averages. The house is older than most nearby homes (built 4 years before the street average), and the land is slightly smaller than the neighbourhood norm. Its assessed value of $304,000 is well below both the street average ($359,200) and the citywide comparable average ($390,100). This combination of larger interior space at a lower assessed value creates an interesting position: you’re getting more square footage inside for less than what typical homes in the area are valued at. The land size is average for the street but falls below the neighbourhood average, meaning yards here are more compact than what’s typical in Westwood.

This property will likely appeal to buyers who prioritize interior living area over lot size or a newer build. It’s suited for someone who sees value in an older home that offers generous rooms and doesn’t mind that the yard is more modest than the neighbours’. The lower assessed value relative to its size may also attract buyers looking for a property that feels undervalued compared to similar homes nearby—though this also suggests the home may need updates or has less curb appeal than others on the street.

Frequently Asked Questions

1. How does the living area compare to other homes in the area?
It’s well above average. At 1,551 sqft, this home has about 329 sqft more than the typical house on Bedson Street. It ranks in the top 10% street-wide and the top 28% city-wide for comparable homes.

2. Why is the assessed value so low if the house is large?
The low assessed value relative to the living area likely reflects factors like the home’s age (1962, older than most on the street), smaller land size than the neighbourhood average, and possibly condition or features that aren’t captured in these rankings. Don’t assume it’s a bargain without seeing the home in person.

3. Is the lot size a disadvantage?
It depends on your priorities. The 5,172 sqft lot is about average for Bedson Street itself but falls in the bottom 15% for the Westwood neighbourhood. If you want a big yard for gardening or expansion, this lot is tighter than what’s typical nearby. If you prefer less outdoor maintenance, it’s a plus.

4. Does the 1962 build year mean the home needs major updates?
Not necessarily, but it’s worth investigating. Being older than 90% of homes on the street means mechanical systems and structural elements may be original or near end-of-life. Some buyers seek out this era for solid construction and simpler layouts. Get a thorough inspection before assuming anything.

5. How does this property compare to others in Westwood overall?
It sits in an interesting middle ground. You get more interior space than most, but a smaller lot and lower assessed value. It’s not a top-tier property in the neighbourhood by most measures, but it offers a specific trade-off—larger home, older build, less land—that could be a fit for someone who values interior living over outdoor space or modern finishes.