Property Overview
This 1953 one-storey home on a mature, average-sized lot in Central River Heights presents a specific and appealing opportunity. Its key appeal lies in its renovated basement and detached garage, offering immediate functional space. The living area is modest at 1,157 sqft, which is smaller than many on its street but aligns with the neighbourhood average. The assessed value sits above average for both the area and the city, suggesting a solid valuation in a desirable location.
It’s a property that suits practical buyers looking for a move-in-ready foundation in a prime neighbourhood, particularly those who value usable outbuildings and finished lower-level space over a large main-floor footprint. A thoughtful perspective is that the home’s above-average year-built rank for the street indicates it is relatively newer among its immediate peers, which can be a subtle advantage. The significant difference between the 2023 sale price and the current assessed value is a notable point for buyers to investigate, as it may reflect a major renovation, a market correction, or a unique circumstance affecting that prior sale.
Frequently Asked Questions
1. How does the home’s size compare to the area?
The living space is compact at 1,157 sqft, which is below average for Waterloo Street itself but aligns closely with the broader Central River Heights neighbourhood average. This indicates a more efficient or cozier layout compared to some immediate neighbours.
2. What does the assessed value tell us?
The $480k assessment is above average for both Central River Heights and Winnipeg overall, signalling that the property is valued highly within its market context. This often reflects the desirable location, the renovated basement, and the lot characteristics.
3. Is the lot size typical?
Yes. The 5,393 sqft lot is very close to the average for the street, neighbourhood, and city. It offers standard outdoor space for the area without being unusually large or small.
4. Why was there such a large price difference between the 2023 and 2019 sales?
The 2023 sale price of $43.50k is atypical and does not represent a standard market transaction. It likely indicates a non-arms-length sale, such as a transfer between family members. The 2019 sale at $360k is a more relevant market benchmark.
5. What is a less obvious point to consider about this home?
For its street, the 1953 build year is actually above average (newer than about 74% of comparable homes). This can be a quiet advantage, potentially meaning updates to core systems may have occurred later than in many neighbouring houses.