Property Overview: 615 Waterloo Street, Central River Heights
Key Characteristics & Appeal
This well-situated two-storey home in Central River Heights presents a compelling blend of space, location, and established character. Built in 1953, the house sits on a generously sized lot of over 6,000 sq ft, which is notably larger than many of its neighbours and peers across the city. With 1,825 sq ft of living space, it offers above-average roominess for the area, catering well to growing families or those who appreciate spacious interiors.
The home’s primary appeal lies in its solid positioning within a desirable neighbourhood. The numbers tell a clear story: its lot size, living area, and assessed value consistently rank in the top 25-30% when compared to other homes on Waterloo Street and in Central River Heights at large. This suggests a property that outperforms local norms. A key feature is the renovated basement, adding valuable finished space, and the property includes a detached garage. It last sold in June 2021 for $630,000, a price that was well above average for the neighbourhood at the time, indicating strong market appeal.
This property would suit buyers looking for a established home in a prime location without compromising on yard space. It’s ideal for those who value a character neighbourhood but want a house that stands above the median in terms of scale and lot size. It would also appeal to someone viewing the renovated basement as a key asset for family living, hobbies, or extra storage.
Frequently Asked Questions
1. What does the assessed value mean, and is the sale price related to it?
The assessed value (listed as $58.80k) is for municipal tax purposes only and is not an indicator of market value. The home last sold for $630,000 in 2021, which is the relevant figure for understanding its recent market price.
2. How does this home compare to others nearby?
The data shows this home consistently ranks above average for its street and the wider Central River Heights area in key categories like land area, living space, and assessed value. This means you’re getting more space and a higher-valued property than many in the immediate vicinity.
3. Is a 1953-built home a concern?
While not new, the year built (1953) is actually newer than the average for both Waterloo Street and Central River Heights. This suggests the home may have more modern infrastructure than many peers in this established neighbourhood. The renovated basement is also a positive update.
4. What are the implications of a detached garage?
A detached garage offers flexibility—it can be used purely for vehicle storage, converted into a workshop, or serve as extra storage without impacting the main house's layout. However, it requires going outdoors to access, which can be a consideration in Winnipeg winters.
5. The sale price in 2021 seems high for the area. Why?
The data confirms the $630,000 sale price was in the top 4% for Central River Heights at the time. This premium was likely commanded by the combination of a large lot, above-average living space, a renovated basement, and the overall scarcity of homes with these combined attributes in this sought-after location.