Property Overview: 103 Lake Village Road
Key Characteristics & Appeal
This 920 sqft bungalow, built in 1977, presents a practical and affordable entry point into Winnipeg’s Waverley Heights neighborhood. Its core appeal lies in its relative value and position as a well-maintained, average-sized home on its own street. While its living space and lot size (4,085 sqft) are modest compared to the broader, more affluent neighborhood averages, this translates to a lower assessed value ($305k) and a manageable scale.
The property suits first-time buyers, downsizers, or practical investors seeking a lower-maintenance footprint without sacrificing location. A thoughtful perspective is that it offers neighborhood amenities and prestige at a more accessible price, representing a "right-sized" option in an area where many homes are larger and more expensive. Its above-average age ranking on its street suggests it is one of the more established homes, potentially with mature landscaping and a settled streetscape.
Frequently Asked Questions
1. Is this home smaller than others in Waverley Heights?
Yes. At 920 sqft, the living area is below the neighborhood average (~1,239 sqft). However, on its specific street (Lake Village Road), it is very close to the average size (936 sqft).
2. How does the assessed value compare?
The home’s assessed value of $305k is below the Waverley Heights average but is around average for the city overall and for Lake Village Road itself. This indicates you are paying primarily for location and land value here.
3. What does the lot size mean for me?
At just over 4,000 sqft, the lot is smaller than many in Winnipeg but is actually slightly larger than the average for Lake Village Road. It provides a decent outdoor space that is manageable for gardening or recreation without being burdensome to maintain.
4. Is the 1977 build date a concern?
The home is of a typical age for its street and neighborhood. Its ranking shows it is actually newer than many homes on Lake Village Road. As with any home of this era, a thorough inspection of major systems (roof, wiring, plumbing, insulation) is recommended.
5. Who would this property not suit?
Buyers seeking a large, modern home with expansive rooms and a very big yard may find it too compact. It’s best for those who prioritize location and value over sheer square footage.