Property Summary: 209 Lake Village Road, Waverley Heights, Winnipeg
Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1978, presents a compelling mix of above-average condition and relative value within its immediate setting. Its primary appeal lies in being a well-sized, modern home for its specific street. The living area is notably larger than most on Lake Village Road (top 17%), and it is the newest home on the street (top 1%), suggesting potentially fewer major age-related updates. However, the property sits on a smaller, sub-3,000 sqft lot, which is common for the street but well below the wider neighborhood average.
This creates a clear profile: it’s a turnkey-oriented home in a mature area, suited for buyers who prioritize the home’s interior condition and space over expansive outdoor land. The assessed value is aligned with the street average but sits below the broader Waverley Heights average, indicating a value proposition for someone seeking entry into the neighborhood without a premium for land size. It would suit first-time buyers, downsizers, or investors looking for a manageable property with strong fundamentals on a block of similar homes, where the newer build year is a distinct advantage.
Frequently Asked Questions
1. Is the smaller lot a significant drawback?
It depends on your lifestyle. The lot is consistent with others on the street, making it the norm for this specific block. It means less yard maintenance but also less private outdoor space. For those wanting a large garden or pool, it may be limiting. For those seeking low-maintenance living, it could be a benefit.
2. The home is newer than most on the street. What does that imply?
A 1978 build date is newer than the street average (1977) and notably newer than the citywide average (1966). This suggests critical components like wiring, plumbing, and the roof may have been updated later or could have more serviceable life remaining than many comparable properties, potentially reducing immediate capital costs.
3. How does the value compare to the wider area?
The assessed value is around average for Lake Village Road but below the average for all of Waverley Heights. This typically reflects the smaller lot size. You are effectively paying for the house and its condition rather than a premium for land, which can represent good value if land size isn’t your top priority.
4. What does the living area ranking tell me?
With 1,080 sqft, the home offers more interior space than 83% of similar homes on its own street. This is its strongest feature. While it’s around the city average, it feels spacious within its immediate context, which is often what matters most for daily living.
5. Who would this property not suit?
It may not suit buyers seeking a large, private yard for recreation or gardening, as the lot is in the bottom 15% for the street. It may also not appeal to those looking for a home that significantly outperforms neighborhood averages for investment; this is a solid, average-value home within its micro-market.