Property Overview: 551 Waterloo Street, Central River Heights
Key Characteristics & Appeal
This home is a standout offering in the desirable Central River Heights neighborhood, combining generous space with established charm. Its primary appeal lies in the rare combination of a large, nearly 8,000 sqft lot—placing it in the top 9% on its street and top 2% in the neighborhood—with a renovated basement and the added luxury of a private pool. Built in 1953, the one-storey house offers a comfortable 1,802 sqft of living space, which is notably above average for both the area and the city.
The property’s assessed value of $690k firmly positions it as an elite offering in Central River Heights (top 2%) and city-wide (top 4%), signaling a premium, well-regarded asset. This isn't just a home; it's a substantial land holding in a prime location. It would particularly suit buyers who value outdoor privacy and space for gardening or recreation more than sheer interior square footage, and who are looking for a move-in-ready property with high-end amenities like a pool and updated basement. It’s an ideal fit for families or downsizers seeking single-level living without compromising on lot size or prestige in one of Winnipeg’s most established communities.
Frequently Asked Questions
1. How does the lot size compare to typical properties?
The 7,961 sqft lot is a key feature, significantly larger than the average for Central River Heights (~5,581 sqft) and even more so for Waterloo Street itself (~5,833 sqft). This places it in the top tier of properties for land area locally.
2. What does the "Elite" assessed value ranking mean?
An assessed value ranking in the "Elite" (top 2-5%) category for the neighborhood and city indicates the property is formally valued among the highest in its peer group. This often reflects a combination of its large lot, desirable location, and improvements like the renovation and pool.
3. The home was last sold in 2019 for $43,800. Why is the assessed value now $690k?
The 2019 sale price appears to be an outlier not reflective of current market value—it may have been a non-arms-length transaction or a sale with specific conditions. The current assessed value is the relevant figure for understanding its standing in today's market.
4. Is a pool common for homes in this area?
No, a private pool is a uncommon and premium feature for homes in Central River Heights, adding a unique recreational and lifestyle appeal not found in most neighboring properties.
5. As a one-storey home, is the living space sufficient for a family?
With 1,802 sqft of living area, the home is above average size for the neighborhood and city. The renovated basement provides additional flexible space, making the total usable area quite generous for a single-level floor plan.