Property Summary: 877 Wayoata Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home in the Kildare-Redonda neighbourhood, built in 1971. With 800 sqft of living space and a recently renovated basement, it presents as a practical, low-maintenance property. The lot size is modest at just under 3,000 sqft, and there is no garage.
The primary appeal lies in its value and manageability. The home’s assessed value sits below the average for its street, neighbourhood, and the wider city, suggesting a potentially accessible entry point into the market. Its smaller scale means lower utility costs and less upkeep, which is a significant draw. The renovated basement adds functional living space without the need for immediate projects.
This property would suit first-time buyers seeking an affordable, ready-to-move-in home, or downsizers looking to simplify without leaving the community. It’s less suited for those needing multiple bedrooms, extensive yard space, or who rely on private vehicle storage. A thoughtful perspective is that while the home is below average in size and value citywide, it is relatively typical for its specific street, offering a sense of neighbourhood consistency without the premium of a larger, more updated property.
Section 2: Frequently Asked Questions (FAQs)
1. What does the "below average" assessed value actually mean?
It means the city's assessment for this home is lower than the typical home in Winnipeg. This can indicate a more affordable purchase price and potentially lower property taxes, but it often reflects the home's smaller size and modest characteristics compared to the broader market.
2. Is the renovated basement a legal suite?
The provided information states it is a renovated basement, not a separate suite. Buyers should verify with the listing agent or city permits to confirm its legal status and whether it meets requirements for a secondary rental unit.
3. What are the implications of having no garage?
Parking will be limited to the driveway and street. This affects convenience, security for your vehicle, and storage. It’s important to assess on-street parking availability, especially in winter, and consider the cost of adding a shed or other storage solutions.
4. How does the lot size impact the property?
At 2,999 sqft, the yard is smaller than many in Winnipeg. This means less outdoor maintenance but also limited space for gardening, play structures, or private outdoor entertaining. It offers a good balance for those who want a small outdoor area without the work of a large lot.
5. The home is older—what should I be concerned about?
Built in 1971, major systems like the roof, plumbing, electrical, and furnace are likely at or beyond their typical lifespans. A thorough home inspection is crucial to understand the condition and anticipate near-future replacement costs, even with a renovated basement.