Property Overview: 14 Lake Fall Place, Waverley Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 14 Lake Fall Place presents a balanced and practical offering in Winnipeg's Waverley Heights community. Its primary appeal lies in its relative affordability within a desirable area, coupled with a well-maintained vintage.
Key Characteristics:
- Size & Space: The 1,080 sqft living area is very close to the average for its immediate street and provides comfortable, typical family space. The lot size of 2,529 sqft is notably smaller than the broader neighborhood norm, which translates to lower maintenance but less private outdoor space.
- Value Proposition: The standout feature is its assessed value for taxes ($291,000), which is significantly below the Waverley Heights community average (~$398,000). This suggests a potentially more accessible entry point into the neighborhood or a lower ongoing tax burden compared to nearby properties.
- Condition & Era: Built in 1978, this home is newer than most on its street and in its immediate community, indicating potentially fewer age-related concerns than some neighbors. It represents a solid, late-70s construction.
- Neighborhood Context: It sits on a street where homes are generally similar in age and living space, offering neighborhood consistency. However, its lot size and value are distinct when compared to the wider, more established area of Waverley Heights.
Ideal Buyer Profile:
This property would suit first-time buyers or downsizers seeking the Waverley Heights address without the premium price tag often associated with larger lots in the area. It's also a practical choice for value-conscious buyers who prioritize indoor living space and a newer build year over extensive yard work. The smaller lot may appeal to those wanting a manageable outdoor space.
Section 2: Frequently Asked Questions
1. Is the smaller lot size a major drawback?
It depends on your priorities. The lot is smaller than the community average, meaning less yard for gardening or recreation. However, it requires less maintenance and may contribute to the home's lower assessed value, which can mean savings on property taxes.
2. The assessed value seems low for the area. Does this indicate a problem?
Not necessarily. Municipal assessments for taxes are based on mass appraisal models and may not reflect current market value or recent renovations. It's a strong indicator of a relatively lower tax bill, but a professional appraisal and market evaluation are essential to determine the true market price.
3. As a 1978 home, what should I be mindful of?
While newer than many in the area, a home of this age may have original components nearing the end of their service life. A thorough inspection should focus on the roof, windows, original plumbing, and electrical systems. The good news is that many updates from this era are now standard and functional.
4. How does this home truly compare to others on the street?
The data shows it's very typical for Lake Fall Place in terms of living space and build year. Its main differences are a slightly smaller lot and a lower assessed value than the street average, which could represent an opportunity or reflect specific lot characteristics.
5. What's the biggest advantage of this property?
The most significant advantage is its position as a competitively priced home in a well-regarded community. You are acquiring a home that is on par with its immediate neighbors in size and age, but which appears to carry a lower tax assessment relative to the broader Waverley Heights area, offering potential long-term value.