Key Characteristics & Buyer Profile

This is a 1,720-square-foot home built in 1947 on a 6,922-square-foot lot in Winnipeg’s Wildwood area. Its standout feature is the living space: it’s comfortably above average citywide (top 20%), and sits slightly above the norms for both its immediate street and the broader Wildwood neighborhood. The assessed value of $481,000 is a little below the street and neighborhood averages, which suggests it may be priced more accessibly than comparable homes nearby, especially given its larger-than-average floor plan.

The land is a different story. The lot is smaller than most in the Wildwood area (ranking in the bottom 16% locally), though it’s still above average when compared to the city as a whole. The house itself is older than most in the city (top 76% for age), but it’s actually among the older, more established homes on its street and within the neighborhood—homes here tend to date from the early 1950s.

The appeal here is twofold: you get a roomier interior than most city homes, and you’re in a mature neighborhood where the housing stock is well-established. The trade-off is a relatively compact lot by local standards. This would suit buyers who prioritize indoor square footage and a settled, older character over a large garden or yard. It’s also a good fit for someone who wants more space than the city average without paying a premium for the street’s top-tier assessed values.

Five Possible FAQs

1. Why is the land area smaller than most homes in the neighborhood, but above average citywide?
Wildwood is an older, established area where lots were originally laid out generously. Compared to that local benchmark, this lot is on the smaller side. But citywide—where many newer developments use smaller lots—this 6,922 sqft is still larger than typical. It’s a reminder that “average” depends heavily on the comparison group.

2. How does the 1947 build affect maintenance or renovations?
Homes of this vintage often have solid construction but may need updates to systems (plumbing, electrical, insulation). Being among the older homes on the street and in the neighborhood can mean the character is consistent, but it’s worth budgeting for potential upgrades—especially if previous owners haven’t modernized key elements.

3. Does the assessed value of $481,000 reflect the market price?
Assessed value is a government estimate used for property tax, not necessarily the selling price. The fact that this home’s assessed value is below the street and neighborhood averages, yet above citywide averages, suggests it may be positioned as a relatively affordable option in a desirable area—but local market conditions and the home’s condition will determine the final price.

4. How does “top 20% citywide” for living space compare to a typical new build?
Many newer single-family homes in Winnipeg fall closer to the city average of 1,342 sqft. This home’s 1,720 sqft is noticeably roomier, which can be harder to find in recent construction without moving into a higher price bracket. It offers generous interior space without the extra cost of a large lot.

5. Is the lot size a concern for resale value?
Not necessarily. While a smaller lot can limit expansion or landscaping options, this home’s above-average living area compensates. In a mature neighborhood like Wildwood, buyers often value character and indoor space over a sprawling yard. The lot is still larger than most city properties, so it won’t feel cramped—just more compact than the local norm.