Property Overview: 573 Waverley Street, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1950 on a generous 6,041 sqft lot in Central River Heights. Its key features include a renovated basement and a detached garage. The primary appeal lies in its land size and location; the lot is significantly larger than most in the neighbourhood and the city overall, offering ample outdoor space and potential in a sought-after area. However, the 1,106 sqft living area is modest, placing it below average for the street and neighbourhood.
This property would suit a specific buyer: someone who values land over living square footage, such as a downsizer seeking a manageable home with a large yard, or a visionary buyer who sees the long-term potential in the lot itself. It’s a practical entry point into a desirable community where the value is anchored more in the property's location and land than in the size of the current dwelling. The renovated basement adds functional living space, making the home more workable despite its smaller main footprint.
Frequently Asked Questions
1. Is the assessed value the same as the market price?
No. The current assessed value is for municipal tax purposes. The last recorded sale was in March 2020 for $30,900. Market price is determined by current conditions and buyer demand.
2. The living space seems small. How liveable is the layout?
While the main floor living area is modest, the presence of a renovated basement significantly expands the usable space. Buyers should consider the total functional square footage, including the basement, when evaluating the home's size.
3. What does the large lot size mean for me?
The lot is a standout feature. It provides exceptional outdoor space for gardens, recreation, or entertaining. It also represents future potential, whether for additions, a garage suite (subject to zoning), or simply as a long-term asset in a neighbourhood where land is at a premium.
4. How does this home compare to others on the street?
The data shows this home has a larger-than-average lot for Waverley Street but a smaller-than-average living area and an older build date. It appeals to a different priority—offering more land but less house than many of its immediate neighbours.
5. The home is older. What should I consider?
Built in 1950, the home's core systems (like plumbing, electrical, and foundation) may require inspection and potential updates, even with a renovated basement. Its age is typical for the street but above average for the broader neighbourhood.