Property Overview: 873 Wayoata Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 720 sqft bi-level home at 873 Wayoata Street presents a practical and affordable entry point into Winnipeg’s Kildare-Redonda neighborhood. Built in 1971, its key feature is a renovated basement, adding valuable finished living space to the compact main floor. The home sits on a modest, manageable lot just under 3,000 sqft.
Its primary appeal lies in its value proposition. With an assessed value significantly below averages for the street, neighborhood, and city, it represents a lower financial barrier to homeownership. This is a home that prioritizes function and fundamentals over size or luxury. It would suit first-time buyers, downsizers, or pragmatic investors looking for a straightforward property with recent updates (the basement) and without the maintenance burdens of a large yard, garage, or pool. A thoughtful perspective for the right buyer is that its "below average" metrics in size and value for the area could translate to relative property tax savings and less competition compared to more prominent homes, offering a quiet foothold in a mature community.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 720 sqft above grade, the living area is compact. However, the renovated basement effectively doubles the usable space, making the home function more like a 1,400+ sqft property. It’s ideal for those who value efficient design over sprawling square footage.
2. Why is the assessed value so much lower than nearby averages?
The assessed value of $250k reflects this specific home’s more modest size and building value compared to larger or more updated homes on the street and in Winnipeg overall. It indicates a potentially lower purchase price and property tax bill, which is a key part of its affordability.
3. What does the sold price history indicate?
The home sold in late 2016 for an estimated $17.5k-$20.5k. This very low price from nearly a decade ago strongly suggests it was in need of significant renovation at that time. The subsequent basement renovation likely added substantial value, making current value comparisons to that sale period irrelevant.
4. Are there any major concerns with a 55-year-old home?
Being built in 1971, the home is around the average age for its immediate street. Prospective buyers should prioritize a thorough inspection focusing on foundational integrity, roof condition, and updates to major aging systems like plumbing, electrical, and heating, which are standard considerations for homes of this era.
5. What are the implications of having no garage?
The lack of a garage means relying on street parking and finding alternative storage solutions. For some, this is a worthwhile trade-off for a lower-maintenance property. It’s important to verify on-street parking regulations and availability with the city to ensure it meets your needs.