Property Overview
This home at 80 Lake Village Road presents a specific and practical value proposition within Winnipeg's Waverley Heights neighborhood. Its appeal is rooted in being a competitively priced, lower-maintenance entry point into a desirable area, rather than offering abundant space.
Key Characteristics & Ideal Buyer
The 809 sqft bungalow, built in 1977, sits on a 3,060 sqft lot. Its key characteristic is its efficient scale: the living area is modest compared to the neighborhood and city averages, but it is quite typical for its own street. This is reflected in the assessed value, which is very close to the street average but notably below the wider neighborhood average. Essentially, you are acquiring a home that fits the local streetscape at a price that doesn't carry the premium of the larger, more valuable homes surrounding it.
Its primary appeal lies in accessibility and efficiency. It suits first-time buyers, downsizers, or investors seeking a manageable property in a well-regarded area without the upkeep of a larger house or yard. A thoughtful perspective is that this property offers the benefits of the Waverley Heights location—amenities, schools, and community—while functioning as a more compact, cost-effective living space. It’s a strategic choice for those prioritizing location over square footage, and who see the smaller lot as a feature (less maintenance) rather than a drawback.
Frequently Asked Questions
1. Is the house unusually small for the area?
While its living area is below the neighborhood average, it ranks as around average for Lake Village Road itself. You're buying a home that is typical for its immediate block, situated within a broader area of generally larger properties.
2. Why is the assessed value lower than the neighborhood average?
The assessed value aligns closely with the home's physical characteristics—its smaller size and lot—relative to other homes. It is priced appropriately for what it is, which creates a value opportunity to enter this neighborhood.
3. What does the year built (1977) indicate?
It is actually newer than the Winnipeg city average and is above average for its street. This suggests the home may have construction standards or features from that era that are relatively modern compared to many in the city.
4. Is the lot size a concern?
The lot is smaller than area norms, but this translates to less yard maintenance. It's a trade-off that will appeal to those seeking a low-maintenance outdoor space.
5. How should I interpret all these rankings?
They provide context. This home is a "local average" house on its street in terms of size and value, but becomes a "below average" property when compared to the entire, more affluent Waverley Heights neighborhood. This dynamic is what creates its specific market position.