50 Waterloo Street – Property Summary
Key Characteristics & Buyer Profile
This 1928 home on Waterloo Street offers 3,010 square feet of living space on an 11,995-square-foot lot, with an assessed value of $1.3 million. The property stands out most sharply at the citywide level: it ranks in the top 1% for both living area and assessed value across all comparable homes in Winnipeg. Its lot size is also exceptional, ranking in the top 4% citywide.
Appeal lies in the combination of scale and rarity. While the house is large, it's not the largest on its street (top 6% for living area) – meaning it fits into a neighbourhood where generous proportions are the norm rather than the exception. The assessed value ranks even higher than the square footage suggests (top 3% on the street, top 1% citywide), which may reflect location or quality premiums beyond simple size.
The year built (1928) is older than the street average (1946) and significantly older than the citywide average (1966). This is not a "newer is better" trade-off – the property ages in a neighbourhood where older homes are common (Wellington Crescent average is 1940), so the vintage is consistent with its surroundings.
This property would suit: Buyers who value established neighbourhoods with mature trees and larger lots, and who are willing to work with an older home's character and potential maintenance needs. It may appeal particularly to those who prioritize interior space and land area over modern finishes or move-in-ready condition. The price point and location suggest a buyer who is comparing within the top tier of Winnipeg real estate, not bargain-hunting.
Five Possible FAQs
1. How does this home compare to others on Waterloo Street?
It's among the larger and more valuable homes on the street – top 6% for living area, top 3% for assessed value, and top 7% for lot size. It's also among the oldest, built in 1928 versus a street average of 1946. So it's an established, sizeable property in a strong position relative to its immediate neighbours.
2. Is the assessed value of $1.3M realistic for the current market?
Assessed value is a municipal benchmark, not a market price. The property's ranking (top 1% citywide, top 3% on its street) indicates it's in an elite tier, but actual sale prices depend on condition, upgrades, and market timing. It's best used as a relative comparison tool, not a hard valuation.
3. What does the "Top 1%" ranking mean for resale?
It means the property competes in a very small pool of comparable homes. This can be an advantage (less competition from similar listings) or a challenge (fewer buyers able to afford or qualify at that level). Resale timelines may be longer than for mid-range homes, but the scarcity can support value retention.
4. How much work might a 1928 home need?
No specific condition data is provided here. However, homes of this era often have solid construction (old-growth lumber, plaster walls) but may need updates to electrical, plumbing, insulation, or windows. Buyers should budget for a thorough inspection and consider whether they want original character or modern efficiency – or some of both.
5. What is the neighbourhood like?
The property is on Waterloo Street, within the Wellington Crescent area. The neighbourhood average year built (1940) and large average lot size (9,488 sq ft) suggest an established, affluent area with mature landscaping. Citywide rankings for both lot size and value confirm this is not a transitional or up-and-coming area – it's already top-tier.