Property Overview: 4067 Waverley Street
Key Characteristics & Buyer Appeal
This one-storey home in La Barriere is defined by one extraordinary feature: its land. Sitting on a 5-acre lot (217,784 sq ft), the property offers a level of space and privacy that is exceptionally rare within Winnipeg, ranking in the top 1% citywide. The house itself is a comfortable 1,946 sq ft bungalow with a renovated basement, built in 1964. While the living space is above average for the city, the assessed value is notably modest, especially when considered against the immense lot size. This creates a unique value proposition where the land itself represents a significant portion of the asset.
The primary appeal lies in its transformative potential. It perfectly suits a buyer whose vision extends beyond the existing structure—whether that's enjoying unparalleled private greenspace, pursuing hobbies like gardening or keeping animals, or planning a future custom build. It’s also a compelling option for those seeking a quiet, semi-rural lifestyle while remaining within city limits. The detached garage adds practical utility. This property is less suited for someone seeking a turn-key, modern mansion and more ideal for a practical buyer, builder, or nature enthusiast who sees the long-term value in securing a substantial piece of land.
Frequently Asked Questions
1. Why is the assessed value relatively low given the huge lot size?
Assessment considers the current use and existing improvements. The value reflects the 1964 bungalow as the primary structure. The vast acreage is a tremendous asset, but its potential value is often fully realized by a future owner's development plans rather than the current tax assessment.
2. Is the land usable, or is it protected/wetland?
Prospective buyers must verify the zoning and any land-use restrictions with the city. While the data highlights the acreage, its specific usability for building, subdividing, or other purposes requires due diligence.
3. What does "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. It is essential to clarify the finishes, ceiling height, moisture control, and whether it includes legal egress windows or secondary suites.
4. How does the sold price history inform the current value?
The home sold in mid-2024. That recent sale price is the most direct indicator of its current market value, far more than the older assessed value for tax purposes. Obtaining the exact sold price is recommended for accurate benchmarking.
5. What are the annual property taxes?
With an assessed value of $48,300, the property taxes will be significantly lower than a typical Winnipeg home with a similar market value but a higher assessment. This is an important operational cost advantage for the buyer.