Property Overview
This home at 278 Lake Village Road presents a practical and efficient living option in Winnipeg's Waverley Heights area. Its key appeal lies in offering solid value within a well-established neighborhood, particularly for those seeking a manageable property without the upkeep of a larger lot or home.
Key Characteristics & Ideal Buyer
The 920 sqft bungalow, built in 1977, sits on a 3,009 sqft lot. Its most defining characteristic is its efficient scale. While the living space is slightly below the neighborhood average, it ranks very well on its own street, suggesting it fits comfortably within its immediate context. The assessed value of $307K is notably below the Waverley Heights average, indicating a potentially more accessible entry point into this area.
The property’s appeal is grounded in practicality. It suits first-time buyers, downsizers, or investors looking for a lower-maintenance home in a mature neighborhood. The lot size, while smaller than many in the wider area, translates to less yard work and a focused outdoor space. A thoughtful perspective is that this home represents a "right-sized" option: it avoids paying a premium for excess square footage or land you may not need, while still providing the stability and location of an established community.
Frequently Asked Questions
1. Is the smaller living area a concern?
The home is efficiently sized. It ranks in the top 38% on its own street for living area, meaning it is typical or slightly better for Lake Village Road. It’s designed for simpler living and easier maintenance.
2. Why is the assessed value lower than the neighborhood average?
The assessed value reflects the home's specific attributes—its size, lot, and features—within a neighborhood that includes many larger properties. This can represent a value opportunity to live in Waverley Heights at a lower tax assessment base.
3. What does the lot size mean for outdoor space?
At just over 3,000 sqft, the lot is manageable. It provides space for a patio, garden, or play area without demanding extensive landscaping or upkeep, which can be a benefit for those seeking a low-maintenance lifestyle.
4. How does the 1977 build year affect the home?
Built in 1977, the home is newer than many in Winnipeg overall. This suggests potentially more modern construction standards and systems than the citywide average, though a thorough inspection is always recommended to understand the condition of major components.
5. How does this property compare to others on the street?
The data shows this home is very consistent with its immediate neighbors. Its living area, assessed value, and build year are all representative of Lake Village Road, indicating it’s a standard offering for this specific street, which itself is part of a broader, generally more upscale neighborhood.