Property Overview: 8 Maywood Road

Key Characteristics & Appeal

This is a 960 sq. ft. home built in 1961 on a 5,318 sq. ft. lot in Winnipeg's Windsor Park neighbourhood. Its standout feature is the assessed value of $371,000, which ranks well above the average for both its street (top 29%) and the wider neighbourhood (top 29%). This suggests the property has been well-maintained or updated in ways that have added significant market value relative to its physical footprint. The living area and lot size, however, are below the neighbourhood and street averages—a trade-off that points to a home where the interior condition or finishes, rather than sheer space, drive the price. The year built is slightly older than the citywide average (1966), but on par with immediate neighbours.

The appeal here is not raw square footage or a sprawling yard. Instead, it lies in buying into a solid, mid-century neighbourhood at a competitive price point. The assessed value indicates the home sits slightly above the median citywide, but below the citywide average, positioning it as a realistic entry point for buyers who want a property that doesn't need immediate, major work. It would suit a first-time buyer or a small family looking for a home in a settled area with established streets, where the trade-off is a smaller lot and interior for a property that likely shows well. For investors, the value gap between the lot size and the assessed home value could also hint at potential for a thoughtful renovation or addition, though the lot is on the smaller side for the street.

Five Possible FAQs

1. Why is the assessed value above average when the home is smaller than most on the street?
   Assessed value reflects the municipality's estimate of market value, which factors in not just size but also condition, updates, and recent sale prices of comparable homes. A strong assessment relative to the street suggests the home’s interior finishes, systems, or recent renovations have driven up its worth, even if the floor plan is compact.

2. Is a lot size in the bottom 19% of the neighbourhood a problem?
   For some buyers, a smaller lot means less yard maintenance and potentially a lower purchase price per square foot of land. However, it can limit future expansion or resale appeal for buyers specifically seeking a large garden or space for a detached garage. It’s less of a concern if you value a manageable outdoor space and a home that’s already in good shape.

3. How does the 1961 build year affect insurance or maintenance needs?
   Homes from this era commonly have original electrical, plumbing, or foundation details that may need updating. However, the fact that the assessed value ranks high relative to the neighbourhood suggests these systems are likely functional or have been addressed. It’s always wise to confirm the age of the roof, furnace, and windows specifically, as these are typical mid-century replacement items.

4. What does it mean that the home ranks “around average” citywide for assessed value?
   It means the $371,000 assessment sits near the median for similar homes across Winnipeg, not significantly above or below. This can be a reassuring sign: the property is neither overpriced for what it is, nor a bargain that might need heavy investment. It reflects a stable, realistic market position.

5. Would this property appeal to families looking for a good school catchment or commuter access?
   Windsor Park is a well-established neighbourhood near the Seine River, with local schools, parks, and convenient access to downtown via Main Street or Lagimodiere Boulevard. For families, the smaller lot and living area might be a trade-off for walkability and a quieter street. You’d want to verify school catchment boundaries directly, as they can shift, but the area is generally considered family-friendly.