Property Overview & Key Characteristics
This home at 1022 Waller Avenue presents a practical opportunity in Winnipeg's Maybank neighbourhood. Its key appeal lies in its balance of a modestly-sized house on a generous, average-sized lot. With 984 sqft of living space, the home is smaller than many in the city but is competitively sized for its immediate street and area. The lot of just over 5,000 sqft offers valuable outdoor space and potential relative to the home's footprint.
The property suits first-time buyers or practical downsizers looking for a manageable home without compromising on yard space. Its assessed value is notably low compared to neighbours, which can indicate a lower property tax burden but also suggests the home may require updating. Built in 1953, it’s older than most on its street, appealing to those interested in adding value through renovations. It’s not a move-in-ready showcase, but a grounded proposition for a buyer comfortable with a home that has a lower entry point and clear potential.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighbouring homes?
A significantly lower assessment, like this one, often reflects the home's condition, age, and features relative to updated houses nearby. It typically results in lower property taxes, but it's a strong indicator that the home may need modernization.
2. How does the home's size feel for daily living?
At 984 sqft, it's compact. This is efficient for individuals, couples, or small families who prioritize low maintenance. The layout and flow will be key, as space needs to be well-utilized in a home of this size.
3. What does the sale history tell us?
The home sold twice in recent years (2020 and 2024). This pattern suggests it could be a well-priced entry point or a flip project. Requesting the exact sold prices is crucial to understanding its recent market trajectory and the level of investment made by the previous owner.
4. Is the large lot a major advantage?
The lot is a definite asset. It offers room for gardening, recreation, or future expansion like a shed or deck. In a neighbourhood, a lot this size provides more privacy and breathing room than newer subdivisions often allow.
5. What should I prioritize during a viewing?
Focus on the condition of major systems (roof, foundation, heating, electrical) common in a 1950s build, and look at how the layout functions. Also, assess how the outdoor space connects to the home, as that lot is a primary feature that can offset the smaller interior.