Property Overview: 490 Waverley Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,344 sqft home, built in 1948, presents a grounded opportunity in the established North River Heights neighborhood. Its assessed value of $441k sits above the Winnipeg citywide average for comparable homes, suggesting a perception of solid value within a desirable area. The lot size of 5,198 sqft is notably smaller than others on Waverley Street but is typical for the immediate area and city overall.
The primary appeal lies in its positioning within a mature, sought-after community. The home offers a manageable scale for maintenance and updates. It would suit a first-time buyer or downsizer looking for entry into a prime neighborhood without the premium for a larger lot or a fully renovated property. A thoughtful perspective is that its "around average" metrics across the board indicate a stable, predictable investment in a well-regarded area, rather than an outlier with extreme potential or risk. It’s a property for someone who values location and community character over sheer size or a brand-new build.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to likely market price?
The assessed value of $441k is for municipal tax purposes. While it provides a benchmark, market price is determined by current conditions, the home's specific state, and buyer demand. It sits above the citywide average for similar homes, which often reflects the desirability of the North River Heights area.
2. Is the living space sufficient for a family?
At 1,344 sqft, the living area is slightly below the average for both the street and the neighborhood. It would likely suit a small family, a couple, or an individual comfortably. Buyers should consider their space needs and the potential to reconfigure the existing layout.
3. What should I know about a home built in 1948?
Homes of this era are typically solidly built but will likely require updates to mechanical systems (like plumbing and electrical), insulation, and windows. A thorough inspection is essential to understand the condition and plan for any necessary modernizations or maintenance.
4. The lot is smaller than others on the street. Is that a concern?
While the lot is smaller than many on Waverley Street, it is consistent with the neighborhood average. This often means less yard maintenance. The trade-off is potentially less private outdoor space compared to some immediate neighbors, but it does not detract from the location's overall appeal.
5. Where can I find verified historical sale data for this property?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the full transaction history and exact figures directly via email from the site provider, who will perform a manual lookup.