Property Overview
This home at 75 Lake Village Road in Winnipeg's Waverley Heights neighborhood presents a specific and value-oriented profile. Its key appeal lies in offering a competitively priced entry point into a established community, particularly for those who prioritize location and a manageable footprint over sheer size.
Key Characteristics & Target Buyer
The 900 sqft bungalow, built in 1977, sits on a 3,595 sqft lot. The data reveals a clear narrative: this property is consistently "below average" in size (both living area and lot) when compared to its broader community and city, but crucially, it is "close to average" on its own street and in its assessed value for tax purposes. This indicates you are buying into a street of similarly scaled homes, ensuring neighborhood consistency, while the property's assessed value is notably lower than the Waverley Heights average, suggesting a potentially more accessible price point.
Its primary appeal is for pragmatic, first-time buyers or downsizers seeking a lower-maintenance home in a convenient south Winnipeg location without the premium often attached to larger lots and square footage in the area. It suits someone comfortable with a home that is efficient and cozy rather than expansive. A less obvious perspective is that a smaller, well-priced home on a modest lot in a desirable area can represent a strategic, lower-risk investment, as its value is tightly linked to location rather than being inflated by size or luxury features that may not appeal to the broadest market in the future.
Frequently Asked Questions
1. Is this home significantly smaller than others in Winnipeg?
Yes, at 900 sqft, its living area is below the Winnipeg average. However, it is very close to the average size for homes specifically on Lake Village Road, meaning it fits right in on its own street.
2. Why is the tax assessment lower than the community average?
The assessed value is close to the city-wide average but below the average for Waverley Heights. This typically reflects the home's more modest size and lot dimensions compared to many larger, potentially more updated homes in the broader neighborhood.
3. What does the 1977 build year mean for maintenance?
Built in 1977, the home is newer than many in Winnipeg but is approaching 50 years old. Buyers should budget for updates to major aging components like the roof, windows, and mechanical systems, which may be due for replacement or modernization.
4. Who would this property not be suitable for?
It would likely not suit buyers looking for ample indoor space for a growing family, those who desire a large yard for gardening or recreation, or anyone seeking a move-in-ready home with modern, open-concept layouts common in newer builds.
5. How should I interpret the ranking data?
The rankings show how this property compares to others in three circles: its immediate street, the Waverley Heights community, and all of Winnipeg. The key takeaway is that while it feels average on its own block, it is a more compact, value-oriented option within the wider, generally larger-homed neighborhood.