Property Overview
288 Waverley Street is a distinctive home in Winnipeg's North River Heights neighbourhood. Its character is defined by a compelling mix of historic charm and above-average living space, set on a standard city lot.
Key Characteristics & Appeal
The primary appeal of this property lies in its generous scale. With 2,690 square feet of living area, it ranks in the top 7% of homes on its street and the top 4% within North River Heights, offering significantly more interior space than most local comparables. This makes it ideal for buyers needing room for a growing family, a home office, or dedicated hobby spaces without a sprawling footprint.
Built in 1915, the home is notably older than most in the area, which suggests classic architectural character but also implies a need for thoughtful consideration regarding updates and maintenance. Its assessed value of $531,000 is above average for the wider city and aligns with neighbourhood norms, indicating its established value in a desirable area. The lot size of 5,207 sq ft is typical for the neighbourhood, providing a balanced outdoor space without extensive upkeep.
This home would best suit a buyer who values space and location over a modern build date. It’s a strong match for someone appreciative of older home charm, willing to steward a century-old property, and looking for a sizeable interior in a central, well-regarded community. The recent sale in late 2023 provides a clear, contemporary price benchmark for valuation.
Frequently Asked Questions
1. How does the home’s age impact its value and appeal?
While its 1915 construction places it among the oldest on the street, this often translates to unique architectural details and solid construction. The appeal is for a specific buyer who values character, understanding that maintenance and potential updates are part of the ownership experience.
2. Is the lot size a disadvantage?
The lot is smaller than average for Waverley Street but is very typical for North River Heights overall. It offers a manageable yard, which can be a positive for those seeking less outdoor maintenance while still having private space.
3. The living area is large, but how does the layout function for modern living?
Older homes of this size can sometimes have compartmentalized room layouts. Buyers should consider how the floor plan aligns with contemporary open-concept preferences and whether any renovations would be desired to optimize the flow of the significant square footage.
4. The assessed value seems lower than the 2023 sale price. Why is that?
Municipal assessed values for taxation purposes often lag behind current market values and are calculated using mass appraisal techniques. The recent sold price is a more accurate reflection of its market value at that time.
5. What does its ranking in the top percentiles for living area really mean?
It means this home offers a scarcity value in terms of interior space. In a city-wide search, you'd be looking at fewer than 2% of homes to find this much living area, making it a relatively rare find for its size in this price and location bracket.