Property Summary: 1018 Waterford Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1945, sits on a notably large lot of over 9,000 sqft in the Beaumont neighbourhood. Its primary appeal lies in its land value and location. The property ranks in the top tier for lot size within its street, neighbourhood, and the wider city, offering a rare amount of private outdoor space for the area. The home itself, with 1,049 sqft of living space and an unrenovated basement, presents as a solid candidate for a live-in renovation or a longer-term value play.
The home would suit two main types of buyers: first, the practical renovator or builder who sees the underlying asset—the large, well-ranked lot—as the key value, with the existing house providing a foundation to update or expand. Second, it suits a value-conscious buyer seeking an established neighbourhood with above-average green space, who is comfortable with a home that requires modernization. A less obvious perspective is its appeal to those looking for stability; the assessed value has remained consistent, and the property’s top-tier rankings for lot size suggest a enduring, intrinsic value that isn't solely dependent on the condition of the structure.
Section 2: Frequently Asked Questions
1. What does the "Top X%" ranking actually mean?
These rankings compare this specific property against all others on the same street, in Beaumont, and across Winnipeg for that metric. For example, being in the "Top 87%" for land area on its street means its lot is larger than 87% of its immediate neighbours, highlighting a key advantage.
2. The home last sold for $240k in 2022, but recently sold for $275k in early 2025. What does this indicate?
This suggests a rising market value over a ~2.5 year period. The increase likely reflects both general market conditions and the recognized value of the substantial lot, even without major renovations to the home itself.
3. Who is this property not ideal for?
It is not ideal for buyers seeking a turn-key, modernized home or those unwilling to take on projects. With no garage and an unrenovated basement, it requires a willingness to invest time and capital for updates.
4. The assessed value is $240k, matching the 2022 sale price but below the 2025 sale. Is this a concern?
Not necessarily. Municipal assessed values for taxation often lag behind current market sales. The recent sale at $275k is a stronger indicator of its current market worth.
5. The year built (1945) ranks poorly, but the lot size ranks excellently. Which is more important?
This depends on your goals. The older building age implies potential maintenance or efficiency considerations. However, the exceptional lot size is a permanent, unchangeable asset that often drives long-term value and appeal more significantly in established neighbourhoods.