Property Overview: 699 Waterloo Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home in Central River Heights is defined by its generous proportions and established neighbourhood setting. Built in 1953, it sits on a large 7,242 sqft lot that ranks within the top 10% for size on its street and top 5% within the desirable Central River Heights area. The 2,048 sqft living space is also notably spacious, placing it well above neighbourhood and city averages. Key features include a renovated basement and a detached garage.
The primary appeal lies in the combination of a premium lot size in a mature, sought-after community with the updated practicality of a finished basement. It’s a property that offers room to breathe and grow, whether that means gardening, entertaining, or future expansion.
This home would best suit buyers who value space and location over a brand-new build. It’s ideal for a growing family seeking established parks and schools, or for someone looking for a character home with the underlying land value that defines Central River Heights. The renovated basement adds immediate functional living space, making it move-in ready while the large lot provides a long-term asset.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The current assessed value is $560k. It’s important to note that a previous sale recorded in December 2020 was for $50.60k, which likely represents a non-arms-length transaction or a partial property transfer, not a market sale. The assessed value provides a tax base, but the market price will be determined by current conditions, buyer demand, and the home’s specific features.
2. What does the "top percentile" ranking actually mean for daily living?
These rankings quantify the home’s standout features. For example, being in the top 5% of Central River Heights for lot size means you have significantly more outdoor space than most homes in this area. This translates to greater privacy, more potential for landscaping, and a less crowded feel compared to newer subdivisions.
3. The home was built in 1953. What should I consider?
While the building itself is older, the renovated basement is a key update. A pre-purchase inspection is always advised to understand the condition of major systems (roof, wiring, plumbing, foundation) common to homes of this era, and to identify any needed updates to windows or insulation.
4. Is the detached garage a pro or a con?
This depends on preference. A detached garage provides flexibility—it could be used as a workshop or studio without noise or fumes entering the house. However, it means a walk to your vehicle in Winnipeg winters, which some buyers may find less convenient than an attached garage.
5. How does this property compare to others at a similar assessed value?
The comparison list shows other homes assessed around $560k across Winnipeg. The key differentiator for 699 Waterloo Street is its location in Central River Heights, which typically commands a premium, combined with its very large lot. You may find newer or larger houses for a similar assessed value in other neighbourhoods, but likely not with this specific combination of location and land size.