Property Overview: 207 Waverley Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 207 Waverley Street presents a compelling blend of established character and above-average space. Built in 1924, it is an older home in the context of its immediate street and the desirable North River Heights neighbourhood, which suggests potential for classic architectural details but also warrants a close look at its condition and updates.
The primary appeal lies in its generous proportions, both in the home itself and the lot. With 2,088 sqft of living area, it ranks within the top quarter of homes on its street and top 14% in North River Heights for size. More notably, the 7,218 sqft land parcel is exceptionally large for the area, placing it in the elite top 3% of neighbourhood lots. This offers significant outdoor space, potential for gardening, expansion, or simply more privacy—a rare find in a mature, central community. With an assessed value of $643,000, it sits comfortably above average comparisons at the street, neighbourhood, and city-wide levels, reflecting its substantial footprint and location.
This property would best suit buyers who value space over newness. It’s ideal for a growing family seeking room to spread out indoors and outdoors in a proven neighbourhood, or for someone with a vision to update a character home while enjoying one of the larger lots in the area. It appeals to those who understand the trade-offs of an older home—potential for charm and equity through renovation, balanced against the need for diligent maintenance.
Section 2: Frequently Asked Questions
1. What does the "Elite" ranking for land area actually mean?
It means this property's lot size of 7,218 sqft is larger than approximately 97% of the lots in North River Heights. It is a standout feature, offering significantly more yard space than the neighbourhood average of about 5,054 sqft.
2. The home is older than most on the street. Should I be concerned?
The year built (1924) is a key consideration. It places the home in the bottom 20% for age on Waverley Street. This doesn't automatically indicate problems, but it highlights the importance of a thorough inspection focusing on foundational integrity, wiring, plumbing, and the roof to understand the home's current state and any needed investments.
3. How reliable is the sold price data shown?
The site notes that sold price data is from public sources, not the MLS, and is presented as a range. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email, as industry rules prevent displaying official MLS records here.
4. The assessed value is high compared to area averages. Does that mean the taxes will be high?
A higher assessed value generally leads to higher property taxes, as taxes are calculated using a mill rate applied to your assessment. This home's value is in the top 10% for North River Heights, so you should budget for property taxes commensurate with that tier.
5. What is the practical benefit of the larger living area and lot size?
Beyond more rooms and yard, these metrics often correlate with greater flexibility. The larger living area can accommodate home offices, multi-generational living, or dedicated hobby spaces. The substantial lot provides potential for additions, a detached garage or workshop, mature landscaping, or simply a greater sense of separation from neighbours—a premium in established infill neighbourhoods.