Property Overview: 116 Waterfront Road, Island Lakes
Key Characteristics & Appeal
This two-storey home on Waterfront Road is a study in balanced, practical living within a well-established Winnipeg neighbourhood. Built in 1992, it is notably newer than most homes on its own street and above the citywide average, suggesting potentially fewer major age-related concerns. With 1,711 sqft of living space and a renovated basement, it offers comfortable room for a family. Its assessed value sits above the city median but is modest relative to its own Island Lakes area, which could indicate a value opportunity within this desirable community.
The appeal lies in its positioning as a solid, move-in-ready family home in a mature neighbourhood with a scenic name. It suits buyers looking for a pragmatic step-up home—perhaps growing families or professionals seeking space and stability without venturing into premium-priced territory. A thoughtful perspective is that its "around average" metrics within its immediate area suggest it won’t stand out for luxury or size, but rather for being a dependable, well-situated property in a community where newer builds are rare. It’s a home for those who prioritize neighbourhood character and practical space over having the largest lot or the most modern footprint on the block.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is not a direct indicator of market value. However, being below the Island Lakes average but above the city average suggests this home may be priced accessibly within its specific, sought-after neighbourhood.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, permits, and whether it includes added bedrooms, a legal suite, or simply updated living space.
3. Is the property actually on the waterfront?
The address is on Waterfront Road in the Island Lakes neighbourhood, which features many waterways and ponds. You should verify the exact proximity to water, as lot sizes on the street vary and direct waterfront access is not guaranteed by the street name alone.
4. How does the 1992 build year affect the home?
A 1992 build is relatively recent for Winnipeg, meaning major components like wiring, plumbing, and windows may be more modern than in older homes. However, it is now 34 years old, so standard inspections for roof, HVAC, and other aging systems are still essential.
5. Why is the land area smaller than the street average?
At 6,206 sqft, the lot is smaller than the average for Waterfront Road (7,418 sqft). This means the yard may be more modest than some neighbours', but the lot is still above the city average, offering a reasonable outdoor space with potentially less maintenance.