Property Overview: 715 Waterloo Street, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1953 on a standard city lot in the established Central River Heights neighbourhood. Its primary appeal lies in its location and its renovated basement, offering functional space in a desirable area. The living area is compact at 1,166 sqft, which is smaller than many neighbouring homes, suggesting a cozy, low-maintenance footprint. The detached garage and a land size that is typical for the area provide practical outdoor space.
The property would suit first-time buyers or downsizers seeking an entry point into a popular neighbourhood without a premium price tag. Its below-average assessed and recent sale value, relative to the street, indicates it may be a value-conscious option. A thoughtful perspective is that this home represents the "bones" of Central River Heights—it offers the community benefits and location appeal, presenting an opportunity for someone willing to live with a smaller main-floor footprint or to invest in future main-floor updates, while already having a finished lower level.
Frequently Asked Questions
1. Is the house small compared to others on the street?
Yes. The living area is below average for Waterloo Street, ranking in the bottom 23% for size among comparable homes on the street. It is a more compact home.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the details. A buyer should inquire about the scope, permits, and the nature of the finished space (e.g., recreational room, suite, bedrooms).
3. How does the property's value compare to the area?
Its assessed value is around average for the wider Central River Heights neighbourhood but below average for its specific street. This suggests you are paying more for the location than for the size or condition of the structure itself.
4. Is the land size a pro or con?
The lot is a standard city size, typical for the area. It is not exceptionally large or small, offering a manageable yard for gardening or recreation without excessive upkeep.
5. The home was built in 1953. What should I consider?
While the basement has been renovated, the main floor and core systems (like plumbing, electrical, roof) are likely original or of varying ages. A thorough inspection is crucial to understand the condition and potential upcoming investments.