Property Overview: 15 Lake Village Road, Waverley Heights
Section 1: Key Characteristics & Appeal
This 1977 home at 15 Lake Village Road presents a compelling, efficient package within the established Waverley Heights neighborhood. Its key appeal lies in its balance of above-average valuation on its own street with a manageable, lower-maintenance footprint.
The 900 sqft living area is typical for Lake Village Road but is notably smaller than the broader neighborhood and city averages, suggesting a cozy, easier-to-maintain interior. The 3,120 sqft lot follows a similar pattern: it's close to the street average but smaller than most in the area, reducing yard work. The home’s assessed value of $322K ranks highly on its street (Top 12%), indicating it is perceived as a premium property within its immediate peer group, yet it sits below the average value for the wider Waverley Heights area.
This property would suit first-time buyers, downsizers, or investors seeking a well-regarded entry point into a mature neighborhood without the upkeep of a larger house and yard. It offers the stability of a street where homes hold their value well, while the smaller scale translates to potentially lower utility costs and less ongoing maintenance—a practical choice for those prioritizing location and financial efficiency over sheer space.
Section 2: Frequently Asked Questions
1. Is the living area too small compared to other homes in Winnipeg?
While the living space is below the citywide average, it is very close to the average for Lake Village Road itself. This indicates the home is characteristic of its specific street, which may consist of similar, efficient designs.
2. Why is the assessed value so high for the street?
Ranking in the top 12% on its street for assessed value suggests this property may have features, condition, or positioning that is favorably viewed compared to its immediate neighbors, even with a smaller footprint.
3. What does the "below average" lot size mean for me?
The lot is smaller than most in Waverley Heights, which generally means less landscaping and exterior maintenance. It still provides reasonable outdoor space but may not be ideal for those dreaming of extensive gardens or large additions.
4. Is the 1977 build date a concern?
The year built is exactly the street average and typical for the neighborhood. Homes from this era are common in the area, so finding contractors familiar with their construction and potential renovation needs should be straightforward.
5. How should I interpret the different rankings for street, neighborhood, and city?
They provide context. This home is a strong performer on its specific street in terms of value. When compared to the wider, more affluent Waverley Heights area, it is a more modest, affordable option. This can be seen as finding a value-conscious home in a desirable broader location.