Property Overview: 405 Waverley Street, Winnipeg
Key Characteristics & Appeal
This is a notably modern and spacious home in North River Heights, built in 2022. Its primary appeal lies in its exceptional combination of new construction and generous scale within a well-established neighbourhood. At 2,423 sqft, the living area ranks in the top 7% for the area and top 4% city-wide, offering substantial interior space that far exceeds local averages. The assessed value of $1M reflects its premium positioning, ranking in the top 1-2% across all comparison levels. The lot size of 6,025 sqft is above average for North River Heights, providing good outdoor space while being relatively manageable.
The home suits buyers seeking a move-in-ready, contemporary property without the typical compromises of an older character home. It’s ideal for those who value modern building standards, energy efficiency, and low-maintenance living, but still want the mature streetscape and convenience of the River Heights area. A less obvious perspective is that, while the home is new, its value is significantly anchored in its location—it inherits the prestige and stability of an older, sought-after neighbourhood. Buyers should note that, while the lot is sizeable for the area, it is slightly smaller than the average lot on Waverley Street itself, suggesting a more modern, efficient use of land.
Frequently Asked Questions
1. How does this home’s value compare to others on the street?
With an assessed value of $1M, this property ranks in the top 2% on Waverley Street, where the average comparable home is assessed at about $518,000. It is among the most valuable properties on the block.
2. What are the implications of the home being built in 2022?
As a near-new build, it likely features contemporary layouts, materials, and building codes. This typically translates to lower immediate maintenance costs and modern energy efficiency. The data shows it is one of the newest homes in the entire city, ranking in the top 1%.
3. Is the lot size typical for the neighbourhood?
Yes, and it’s actually above average. The 6,025 sqft lot ranks in the top 10% for North River Heights, where the average comparable lot is about 5,054 sqft. It offers more outdoor space than most area homes.
4. What does the sold price history from 2019 indicate?
The property sold for between $450,000 and $500,000 in September 2019. This was likely prior to the construction of the current home, representing the value of the previous property or the land. The significant increase to the current $1M assessment reflects the value added by the new construction.
5. How can I verify the exact historical sold prices?
The site provides sold price ranges based on public data. To obtain fully verified and exact figures, you must request a manual lookup via email, as this information is not sourced from the MLS system.