Property Overview: 53 Lake Village Road
Key Characteristics & Appeal
This 900 sqft bungalow, built in 1977, presents a practical and value-conscious opportunity in the Waverley Heights neighborhood. Its primary appeal lies in its efficient use of space and its position as a competitively priced entry point into a desirable area. With an assessed value of $305k, it sits comfortably around the average for its own street but notably below the typical price for the wider neighborhood, suggesting potential value relative to its immediate location.
The home suits first-time buyers, downsizers, or investors seeking a manageable property with lower carrying costs. A thoughtful perspective is that while the living area is modest compared to the neighborhood, the lot size (4,290 sqft) is actually above average for Lake Village Road itself. This indicates a better-than-typical outdoor space for the street, offering room for gardening, expansion, or simply more privacy than some neighbors. The data shows it's a home that trades interior square footage for a more affordable tax base and a proportionally generous yard on its specific block.
Frequently Asked Questions
1. Is this home smaller than others in the area?
Yes. At 900 sqft, the living area is below the average for both the Waverley Heights neighborhood and the city overall. However, it is much closer to the average size for other homes on Lake Village Road itself.
2. How does the assessed value compare?
The $305k assessment is around the citywide average for comparable homes. Its key value position is within Waverley Heights, where it ranks below the neighborhood average assessed value, potentially offering a more affordable way into the area.
3. What does the year built tell us?
Built in 1977, this home is newer than many across Winnipeg and is actually above average for its own street. This suggests it may have more modern construction fundamentals than some direct neighbors, though interior updates will depend on its maintenance history.
4. Is the lot a good size?
The 4,290 sqft lot is a standout feature for this specific street, ranking in the top 24%. It provides more land than most properties on Lake Village Road, though it is smaller than the typical lot in the broader Waverley Heights area.
5. Who would this property suit best?
It best suits buyers prioritizing location and lot size over interior space, and who are budget-conscious about both purchase price and ongoing property taxes. It’s a practical choice for those wanting to enter a established neighborhood without paying for excess square footage they may not need.