Property Overview: 451 Waverley Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling profile defined by its value and established location. Built in 1941, it offers 1,598 sqft of living space, which is comfortably above the Winnipeg average. Its most standout feature is its assessed value of $676,000, which places it in the top 5-7% of homes citywide and in the desirable North River Heights area, indicating a premium valuation for its location and condition.
The appeal lies in securing a well-positioned property in a mature neighbourhood without requiring an oversized lot. While the lot is smaller than others on Waverley Street, it is consistent with the area average, offering manageable outdoor space. Recent sale history shows significant appreciation, with the last sale in 2022 fetching between $750k-$800k. This home suits buyers looking for a character home in a prime neighbourhood who prioritize location and value growth over a vast yard or brand-new construction. It’s ideal for professionals or small families seeking a established community with a home that has a track record of strong market performance.
Section 2: Frequently Asked Questions
1. Why is the assessed value so high compared to the home’s size and age?
The assessment reflects more than just square footage. It captures the premium for the North River Heights location, the desirability of the specific street, and the home’s condition, updates, and market position. Being in the top 5% citywide for value suggests unique attributes or improvements that standard metrics don’t fully detail.
2. The lot is noted as smaller than others on the street. Is this a major drawback?
It depends on your lifestyle. While it ranks below average for lot size on Waverley Street, it is near the average for the broader North River Heights area. This often translates to less maintenance and can be a benefit for those not seeking extensive gardening or yard work, while still providing typical urban outdoor space.
3. What does the sale history tell us about the property’s market performance?
The home sold for $600k-$650k in 2019 and then $750k-$800k in 2022. This represents substantial appreciation in a three-year period, significantly outperforming average market trends. It suggests the property has been a strong investment vehicle.
4. As a home built in 1941, what should I be mindful of?
While the year of build is typical for the neighbourhood, a home of this age will likely have had various updates. A key focus for any inspection should be the state of major systems (roof, plumbing, electrical, foundation) and the quality of any renovations. The charm of older construction comes with a responsibility for diligent maintenance.
5. How can I get the exact past sale prices instead of the ranges shown?
The site provides sold price ranges publicly. To obtain the exact historical sale figures, you must request them directly via the email lookup service provided on the page, as this data is not sourced from the MLS and is manually verified.