Property Summary: 127 Swan Lake Bay
Section 1: Key Characteristics & Appeal
This 960 sqft bungalow, built in 1978, presents a practical and affordable entry point into the established Waverley Heights neighborhood. Its primary appeal lies in its value proposition: the home is assessed significantly below the street average ($364k vs. $412.7k) and sits on a modest, manageable 4,225 sqft lot. This combination suggests lower property taxes and less maintenance burden compared to larger lots on the same desirable street.
The home suits first-time buyers, downsizers, or value-focused investors seeking a foothold in a mature area without the premium price tag of a larger property. While the living space is compact relative to area averages, the year built is notably above average for the wider neighborhood, indicating a potentially newer build than many surrounding homes. A thoughtful perspective is that this property offers the location and street appeal of Swan Lake Bay, but with the ongoing costs and upkeep of a more modest footprint—an ideal balance for those prioritizing financial efficiency over sheer space.
Section 2: Frequently Asked Questions
Q: Is the smaller living area a concern?
A: The 960 sqft layout is below average for the street, neighborhood, and city. This indicates a compact, efficient floor plan. It’s a trade-off that contributes to the home’s more accessible price point.
Q: Why is the assessed value so much lower than the street average?
A: The assessed value of $364k ranks in the top 96% on its street (meaning it's one of the lowest). This is directly influenced by the smaller living area and lot size compared to neighbors, which are key factors in municipal assessment.
Q: What does the "above average" year built for the neighborhood mean?
A: Built in 1978, this home is newer than roughly 82% of comparable homes in Waverley Heights. This can be an advantage, potentially meaning newer construction materials, wiring, or plumbing standards than older area homes.
Q: Is the lot size too small?
A: The lot is significantly smaller than others on Swan Lake Bay. For some, this means less yard work and lower outdoor maintenance. For others, it may limit expansion, gardening, or privacy. It is, however, close to the citywide average.
Q: How should I interpret these rankings?
A: The rankings compare this specific property to similar homes in three circles: its immediate street, the wider neighborhood, and all of Winnipeg. They highlight where this home offers value (price, newer build) and where it makes compromises (size of home and lot) relative to its peers.