166 Waverley Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1930-built home with 2,555 square feet of living space on a 9,389-square-foot lot, located in Winnipeg’s Wellington Crescent neighbourhood. The property’s standout features are its value and lot size. On its own street, it ranks in the top 2% for assessed value ($1.11M) and top 4% for land area—meaning it’s both one of the most valuable and one of the largest lots in the immediate area. Citywide, it sits in the top 1% for assessed value and top 3% for living area, which places it well above the typical Winnipeg home.

But the numbers also reveal a trade-off. The house is older than most on the street—built 15 years before the average—and the living area, while large by city standards, is only around average for the Wellington Crescent neighbourhood. This suggests the appeal isn’t about turn-key modernity or maximal square footage within the area. Instead, the property offers a rare combination: a generous lot in a prestigious pocket, with a home that likely has original character or renovation potential, backed by land value that anchors the price.

It would suit buyers who prioritise location and land over a move-in-ready interior. Think someone looking to renovate or rebuild in a top-tier street context, or a buyer who values the prestige and long-term appreciation of a high-ranking assessed property in an elite citywide bracket. It’s less suited to someone wanting a recently updated home that competes on size within the neighbourhood—those buyers may find better options elsewhere in Wellington Crescent.

Five Possible FAQs

1. The house was built in 1930. What should I expect in terms of maintenance?
Older homes often have solid bones but may need updates to electrical, plumbing, insulation, or roofing. Given the property’s high land value relative to the structure, some buyers factor in a renovation budget. A home inspection and review of any recent upgrades (windows, furnace, foundation work) is recommended.

2. How does the assessed value compare to similar homes nearby?
It’s well above the street average ($518K vs. $1.11M) and neighbourhood average ($805K), but roughly in line with the city’s top tier. The assessment likely reflects the lot value and location more than the house itself—common on older prestige streets where land drives price.

3. Is the lot large enough for an extension or a new build?
At 9,389 square feet, the lot is in the top 4% on the street and top 8% citywide. Zoning and setback rules would determine feasibility, but the size is competitive for redevelopment or significant expansion, especially compared to the street average of 7,534 square feet.

4. The living area is below the neighbourhood average. Does that matter?
It depends on your priorities. The neighbourhood average is 2,343 sqft—this home is only slightly larger at 2,555 sqft, so it’s not undersized by local standards. However, if you’re looking for one of the biggest houses in Wellington Crescent, this isn’t it. The value is more in the land and location than interior space relative to neighbours.

5. Who typically buys on Waverley Street in this price range?
Often professionals or families who want a prestigious address with room to personalise. Some are drawn by the school catchment or proximity to the Assiniboine River trails. Others see it as a long-term hold where land appreciation outpaces renovations. It’s not a typical starter home, but it may appeal to buyers who value character and are comfortable with older construction.