64 Addison Crescent – Property Summary

Key Characteristics & Buyer Profile

This 1,220 sqft bungalow, built in 1964, sits on a notably large 6,157 sqft lot. While its living area and assessed value ($356k) are generally around average for its street, neighbourhood, and city, the standout feature is the land. On Addison Crescent, it ranks in the top 17% for lot size, and citywide it lands in the top 28%. That’s a meaningful advantage in a market where yard space is often a compromise.

The home’s appeal isn’t about flash or premium finishes—it’s about solid fundamentals on a generous piece of ground. The year built is typical for the area, and the assessed value sits slightly below the neighbourhood and city medians, which could suggest either a less updated interior or a more realistic entry point. For the right buyer, this creates an opportunity: you’re paying for land value, not cosmetic upgrades.

This property would suit buyers who prioritize outdoor space and are comfortable with a home that may need some updating. It’s ideal for someone looking to get into a stable, mid-century neighbourhood with room to garden, build a garage, or eventually renovate. Investors might also see potential in the lot-to-home size ratio, particularly if redevelopment is permitted in the future. It’s less suited to someone wanting a move-in-ready, turnkey home in a newer subdivision.

Frequently Asked Questions

1. How does the land size compare to other homes in Westwood?
On Addison Crescent, the lot is well above average (top 17%). Within the broader Westwood neighbourhood, it’s closer to the middle (top 41%), meaning the lot is generous for the street but not unusual for the area. It’s still larger than many comparable citywide listings.

2. Is the assessed value of $356k a fair reflection of the home’s condition?
Assessment values consider size, age, location, and general condition, but they don’t account for recent renovations or cosmetic details. Since the value is below the neighbourhood average ($392k) and city median ($390k), it may indicate the home hasn’t been significantly updated. A home inspection would clarify whether the assessment aligns with the actual state of the property.

3. What does “Around Average” mean for the living area and year built?
It means the home is typical for its street and wider area. The living area (1,220 sqft) is within a few percent of the street average, and the construction year (1964) aligns with the most common building period in the neighbourhood. You’re not sacrificing space or getting an unusually old or new property—it’s a consistent, conventional footprint.

4. Could this property be a good candidate for a future renovation or addition?
Possibly. The land area is significantly larger than the house footprint suggests. However, any major changes depend on local zoning bylaws, setback requirements, and whether the lot is serviced adequately. The large yard provides physical room, but you’d need to check with the city before assuming you can expand or build a secondary structure.

5. How does this home compare to others currently for sale in the same price range?
Properties near $356k in Winnipeg often trade off either lot size or interior condition. This home leans toward a larger lot with a smaller, older house. Many comparable listings will have more square footage or newer finishes but sit on tighter lots. It’s a trade-off worth considering based on whether you value outdoor space or interior square footage more.