Property Overview
This home presents a practical opportunity in Winnipeg's Waverley Heights neighbourhood. Built in 1978, its 1,004 sqft living space is modest and below the local average, suggesting a more manageable and efficient layout. The true standout feature is the 7,243 sqft lot, which is substantially larger than most in both the community and the wider city, offering valuable outdoor space and potential. With an assessed value for taxes of $368,000, it sits close to the citywide average, indicating a reasonably priced entry point for the area.
Its appeal lies in this balance of a smaller, likely easier-to-maintain home on a generous, above-average lot. It would suit first-time buyers or downsizers seeking lower maintenance without sacrificing yard space, or investors looking for a property where the land itself represents a significant portion of the value. A thoughtful perspective is that a home of this era on a large lot may offer simpler renovation opportunities compared to newer, more densely built properties, allowing an owner to customize over time while benefiting from an established neighbourhood.
Frequently Asked Questions
1. Is the living space too small?
At 1,004 sqft, it is below the average for the street, community, and city. It suits those prioritizing efficient living and lower utility costs over spacious interiors, with the large lot compensating by extending usable space outdoors.
2. What does the assessed value tell us about the price?
The $368,000 assessment is very close to the citywide average for comparable homes. This suggests the property is not exceptionally high or low-priced for Winnipeg, but within Waverley Heights, it represents a value-oriented option given the larger-than-average lot size.
3. How does the 1978 build year affect the home?
Built in 1978, it is newer than many homes on its street and in its community. This can mean updated building standards compared to mid-century stock, but prospective buyers should still prioritize a thorough inspection for age-related systems like plumbing, electrical, and the roof.
4. Why is the land area a key feature?
The 7,243 sqft lot is a top-tier feature, ranking in the top 15-18% when compared to the community and city. This is a significant asset, offering privacy, room for gardens, play areas, or future additions that are rare in many newer subdivisions.
5. How does this property compare to others in the immediate area?
It is a study in contrasts: its living space and assessed value are at or below the Quincy Bay street averages, while its lot size is above average and its build year is relatively newer. This creates a unique profile of a modest home on a premium-sized lot for the location.