527 Raquette Street – Property Summary

Key Characteristics & Buyer Profile

This 1962-built home offers a livable floor area of 1,143 square feet on a 5,641-square-foot lot. The standout feature is the lot size: on Raquette Street, it ranks in the top 12% (17th out of 139 homes), meaning the property provides more outdoor space than most of its immediate neighbours. That’s a meaningful advantage in a street where lots average 5,345 square feet.

The living area is close to the street average, and the home’s assessed value of $353,000 sits slightly above the street median but below both the community and city averages. The build year is slightly older than the surrounding neighbourhood’s norm, though not dramatically so.

The appeal here is less about square footage or flashy updates, and more about relative land value within a specific street context. A buyer gets a larger-than-usual yard on a block where that’s uncommon, at a price that undercuts many nearby properties. That makes sense for someone who values outdoor space—gardening, storage, or future expansion potential—over a bigger interior. It could also suit an investor or homeowner looking for a property where the land represents a higher portion of the total value, especially in an older, established area like Westwood where lot sizes vary widely. The modest living area might deter buyers seeking maximum interior space for their dollar, but for someone who prioritises yard and location over updated finishes, this is a grounded, sensible option.

Five Likely Questions

1. How does the property’s size compare to other homes on the same street?

The living area is 1,143 sqft, slightly below the street average of 1,197 sqft (ranked 75th out of 139). However, the land area of 5,641 sqft is well above the street average of 5,345 sqft (ranked 17th), so the yard is a significant asset relative to neighbours.

2. Is the assessed value in line with the neighbourhood?

The assessed value of $353,000 is close to the street average of $344,000, and ranks in the top 35% on Raquette Street. But in the wider Westwood community, the average assessed value is $392,000, so this home is below the community norm—potentially offering better value within the area.

3. How old is the house, and should that be a concern?

Built in 1962, it’s slightly older than the street average (1963) and notably older than the community average (1966). While not ancient by Winnipeg standards, buyers should budget for typical mid-century home considerations: original systems, insulation, windows, and potential foundation work. The age isn’t a red flag but warrants a thorough inspection.

4. What does the “top 12%” land ranking actually mean for me?

It means this property has more land than 88% of other homes on the same street. In practical terms, that could translate to a larger backyard, more space for a workshop or garden, or better privacy from neighbours. It may also offer future subdivision or redevelopment potential, depending on zoning—worth checking with the city.

5. How does this property compare to others in Westwood overall?

In the wider Westwood area, this home lands in the bottom third for living area and build year, but close to average for land and assessed value. It’s a middle-of-the-road property in the community, with the main edge being its relatively large lot for the street. Not a standout in every category, but a solid, balanced option for someone who values land over interior size.