Property Overview: 54 East Lake Drive
Key Characteristics & Appeal
This 1978-built home on East Lake Drive presents a practical opportunity in Winnipeg's Waverley Heights neighborhood. Its key appeal lies in its efficient scale and relative value within its immediate streetscape. At 920 sqft, the living space is modest—smaller than most homes in the wider neighborhood and city—but is actually around the average size for East Lake Drive itself. This indicates a street of similarly scaled homes, offering a cohesive, lower-density feel.
The assessed value of $326k is notably above the street average, suggesting the property is in good condition or has features that set it apart on this block. However, this valuation sits below the neighborhood average, positioning it as a potentially more accessible entry point into the area. The lot size of 3,501 sqft follows this pattern: larger than others on the street, but smaller than typical lots in Waverley Heights. This creates a balanced outdoor space that is manageable without being overly expansive.
This property would suit first-time buyers or downsizers seeking a well-located home without excessive upkeep. It’s for those who prioritize a solid position on a specific street over having the largest home in the broader area. The data suggests a smart, value-conscious buyer will appreciate being on a street where this home stands above average in several key metrics, even if it's more modest by wider neighborhood standards.
Frequently Asked Questions
1. Is this a small house?
Yes, at 920 sqft, it is compact. However, it's important to note it ranks in the top half of homes on East Lake Drive for size. It’s smaller than the Waverley Heights average, but typical for its own street.
2. Why is the assessed value higher than the street average?
An above-average assessment on a street can indicate recent updates, better overall condition, or favorable lot characteristics compared to immediate neighbors. It suggests the municipality sees added value in this specific property.
3. What does the lot size mean for maintenance?
At 3,501 sqft, the lot is larger than others on the street but smaller than the neighborhood norm. This typically translates to a manageable yard—less maintenance than a large lot, but still offering decent private outdoor space.
4. How does the 1978 build year compare?
Built in 1978, this home is newer than the city average and ranks well against its neighbors. This often means construction methods and materials are more modern than many older Winnipeg homes, potentially reducing some legacy maintenance issues.
5. Who is this neighborhood analysis for?
The detailed rankings are most useful for data-driven buyers. They help you understand if you're paying for the street, the neighborhood, or the city. Here, you're getting a strong performer on its street, which may be a wiser investment than an underperforming home in a more expensive area.