540 Waverley Street

Property Overview: 540 Waverley Street, Winnipeg

Key Characteristics & Appeal

This one-storey home in Central River Heights is defined by its substantial 6,498 sqft lot, which is notably larger than most in both the neighbourhood and city-wide. Built in 1955, the house itself offers 1,590 sqft of living space and features a renovated basement and a detached garage. Its appeal lies in a classic River Heights combination: a generous, private yard in a mature, established area with the practical benefit of recent updates below ground. The property’s assessed value consistently ranks above average for its immediate street, neighbourhood, and the city, indicating a history of solid value retention.

This home would suit a buyer looking for a grounded project—someone who values outdoor space and location over a modern, turn-key interior. It’s ideal for a gardener, a family seeking room for kids and pets to play, or a long-term owner who can gradually update the main living areas to match the already-renovated basement. The detached garage also appeals to those needing workshop space or extra storage.

Frequently Asked Questions

1. How does the lot size compare to others?
The lot is a key feature. At 6,498 sqft, it is significantly larger than the average for both Central River Heights and Winnipeg as a whole, offering rare outdoor space for the area.

2. What does "renovated basement" imply?
While specific finishes aren’t detailed, this indicates the lower level has been updated, potentially creating additional livable or functional space, which adds value compared to an original basement.

3. Is the home older than others nearby?
Built in 1955, it is actually newer than many comparable homes on its street and in Central River Heights, where the average build year is older.

4. Why is the assessed value different from the last sale price?
The home was last sold in October 2020 for $60,700. The current assessed value of $54,900 is a municipal valuation for tax purposes and is influenced by many factors; it is not a direct market price but does rank well above area averages.

5. What is the neighbourhood context?
Located on Waverley Street in Central River Heights, the property sits in a desirable, established area. Its metrics (lot size, value) consistently rank in the top tiers within this sought-after neighbourhood.