Property Overview: 561 Waverley Street, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1950, sits on a standard-sized lot in the established Central River Heights neighbourhood. Its key features include a renovated basement and a detached garage. With 1,408 sqft of living space, the home offers a practical layout that is very typical for the city overall, but is actually above average in size for this specific neighbourhood. The property’s assessed value is notably strong, ranking within the top 16% for both Central River Heights and Winnipeg, suggesting it is a well-regarded asset in its class.
The appeal lies in its balance and location. It represents a solid, no-surprises home in a desirable area, with the value-add of a finished basement. It’s not the largest or newest on the block, but it holds its own with above-average financial metrics for the area. This property would suit a practical buyer—perhaps a young professional, a small family, or an investor—who values neighbourhood character over a brand-new build. It’s for someone looking for a manageable home in a prime location without the premium price tag of a larger or fully modernized property, but with the upside of a renovation already started in the basement.
Frequently Asked Questions
1. How does the lot size compare?
At 5,315 sqft, the lot is around the average for Waverley Street itself and slightly below the average for Central River Heights. It provides a standard urban yard space.
2. Is the home older than others in the area?
Yes. Built in 1950, it is newer than many homes on its street but is slightly older than the average home in both the Central River Heights neighbourhood and the city of Winnipeg as a whole.
3. What does the "above average" assessed value indicate?
While the home’s physical characteristics are generally average, its official assessed value is in a higher percentile. This often reflects the combined desirability of the location, the condition of the home (including the renovated basement), and recent sale prices of comparable properties.
4. Has the property value increased?
Yes, based on the provided sales history. The home sold for $39,500 in 2017 and then for $56,700 in 2022, indicating significant appreciation over that five-year period.
5. What are the immediate neighbours like?
The listing shows several homes on the same block with very close addresses (e.g., 557, 563 Waverley St.), indicating a tightly knit, traditional streetscape typical of older, central neighbourhoods.