Property Overview
This 1977-built home at 22 Lakedale Place in Waverley Heights presents a clear value proposition centered on its efficient use of space. With 988 square feet of living area on a 5,285 sqft lot, it is notably more compact than most homes on its street and in wider comparisons. This specific profile defines its appeal, suiting buyers looking for a manageable property without a premium price tag. The assessed value of $389k sits comfortably around the Winnipeg average but is significantly below the average for its own street, suggesting an opportunity to own in the area at a lower entry point.
The home would ideally suit first-time buyers, downsizers, or practical investors seeking a lower-maintenance footprint. Its appeal lies not in grandeur, but in affordability and fundamentals. A thoughtful perspective is that a smaller home on a modest lot can mean substantially lower utility costs, property taxes, and time spent on upkeep, freeing up resources for other priorities. While it ranks below average on size metrics, its construction year is newer than many on the street, potentially indicating fewer immediate concerns with aging components compared to older neighbours.
Frequently Asked Questions
1. Is this a small house?
Yes. At 988 sqft, the living area is smaller than approximately 97% of comparable homes on its street and 80% in the Waverley Heights neighbourhood. This is the defining characteristic of the property.
2. Why is the assessed value lower than the street average?
The primary factor is the home's smaller size, both in living space and lot size. The average assessed value on Lakedale Place is $427.7k, largely driven by larger homes. This property's value aligns more closely with the citywide average.
3. What are the advantages of a smaller home like this?
The main advantages are financial and practical: lower purchase price, potentially lower property taxes, reduced heating/cooling costs, and less time and money required for maintenance and cleaning.
4. How does the lot size impact the property?
The lot of 5,285 sqft is smaller than most on the street but is around the neighbourhood average. It provides a manageable outdoor space for gardening or relaxation without the burden of extensive landscaping.
5. Does the 1977 build date mean the home is outdated?
Not necessarily. While styles may have evolved, a 1977 build is actually newer than most on this specific street. This can be an advantage, as major systems like electrical or plumbing might be relatively younger than in older homes, though specific condition depends on updates and maintenance.