Property Summary: 262 Lake Village Road, Winnipeg
Key Characteristics & Appeal
This 827 sqft bungalow at 262 Lake Village Road presents a specific and compelling value proposition. Built in 1977, it is notably newer than most homes on its street, offering modern advantages in wiring, insulation, and layout compared to older stock. The home sits on a manageable 2,999 sqft lot, which translates to less maintenance than larger plots common in the wider Waverley Heights neighborhood and across Winnipeg.
Its primary appeal lies in its position as an accessible entry point into a desirable, established area. While the living space and lot size are below neighborhood and city averages, the assessed value reflects this, sitting comfortably below local benchmarks. This creates an opportunity for buyers seeking location and a newer build year over sheer square footage. It would suit first-time buyers, downsizers looking to rightsize without leaving the area, or practical investors seeking a lower-maintenance property with solid fundamentals in a mature community. A thoughtful perspective is that its smaller scale can mean lower utility costs and property taxes, offering efficiency in a high-value neighborhood.
Frequently Asked Questions
1. Is the house significantly smaller than its neighbors?
Yes, at 827 sqft, the living area is below the average for both Lake Village Road and the wider Waverley Heights area. This is a key factor in its pricing and appeals to those prioritizing a manageable space.
2. What does the assessed value tell me about the price?
The assessed value of $300k is below the average for the street, neighborhood, and city. This suggests the property is priced in line with its physical characteristics (size, lot) and may offer relative value for the location.
3. The lot seems small. Are there any advantages to that?
The 2,999 sqft lot is smaller than typical for the area. This means less yard work and lower outdoor maintenance, which can be a benefit for those seeking a low-maintenance lifestyle or who prefer to spend less time on landscaping.
4. The home was built in 1977. Is that a concern?
On Lake Village Road, a 1977 build date is actually newer than most, ranking in the top 12%. This generally suggests potentially updated building materials and systems compared to much older homes, though a full inspection is always recommended.
5. How does this property fit within the Waverley Heights neighborhood?
It serves as a more affordable, lower-maintenance option within a sought-after neighborhood. You are paying for the location and community amenities, with a home that offers practical, efficient living rather than the larger footprint common in the area.