Property Overview: 1251 Markham Road, Winnipeg
Key Characteristics & Appeal
This 1974-built home on a 5,854 sqft lot presents a practical opportunity in the Waverley Heights area. Its primary appeal lies in the land itself—the lot size is notably above average for its immediate street and is competitive within the neighborhood. This offers valuable outdoor space and potential for gardening, expansion, or future development, subject to approvals.
The home’s living space (923 sqft) is compact, ranking below average at every comparison level. This creates a clear profile: a property where the value is anchored more in the land than in the size of the existing structure. The assessed value of $358k is consistently around or below average for the area, suggesting a potentially accessible entry point into the neighborhood.
This property would best suit a value-conscious buyer who prioritizes lot size over immediate living space. It could appeal to a first-time buyer comfortable with a cozy layout, an investor seeing long-term land value, or a homeowner willing to renovate or expand over time. Its average age and below-average square footage mean it’s likely a functional home that requires a buyer to see the underlying asset—the generous lot—as the key feature.
Frequently Asked Questions
1. Is this a small house?
Yes. At 923 sqft, the living area is below the average for the street, neighborhood, and city. It’s a compact layout suited for efficient living or as a starting point.
2. Why is the assessed value relatively low compared to the neighborhood average?
The assessed value reflects the property as a whole. While the lot is a positive feature, the smaller size and age of the home itself bring the total assessment down to around $358k, below the Waverley Heights average of ~$398k.
3. What does the lot size ranking actually mean?
Ranked 10th out of 58 on its street (Top 17%), the lot is larger than most direct neighbors. This is the property’s standout characteristic and offers more private outdoor space than many nearby homes.
4. How does the age of the home affect things?
Built in 1974, it is older than most in Waverley Heights but typical for its specific street. Buyers should budget for maintenance and updates consistent with a home of this era, but it may also have mature landscaping.
5. Is this a good street or area?
The data shows the street has homes with generally smaller living areas and lots that vary in size. The neighborhood (Waverley Heights) overall has larger homes and higher average values, indicating this property is a more modest option within a established community.