1165 Waller Avenue

Property Overview: 1165 Waller Avenue, Winnipeg

Key Characteristics & Appeal

This is a modest, well-situated home in Maybank, built in 1931. With just over 1,000 square feet of living space on a 5,105 sqft lot, its proportions are practical and manageable. The data reveals a compelling contrast: while its living area is squarely average for the city and neighbourhood, its assessed value is notably low, ranking in the bottom quarter locally and city-wide. This suggests a property that may offer significant value relative to its potential, possibly due to its older vintage or as an opportunity for updates. It last sold in the $300k-$350k range in 2021.

Its appeal lies in its positioning as an efficient, no-frills footprint in a mature neighbourhood. It suits a first-time buyer, an investor, or a downsizer looking for a solid foundation without a premium price tag. The lot size provides good outdoor space relative to the home's footprint, a plus for gardeners or those seeking room to expand in the future. It represents a pragmatic choice for someone comfortable with a home of this era, who sees potential in its established location and favourable lot-to-house ratio.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessed value for tax purposes doesn't equate directly to market value. This lower assessment often reflects the home's age (1931) and potentially its condition or smaller size compared to newer builds. It can result in relatively lower property taxes, which is a financial positive for the owner.

2. What does the sale history indicate about the property's market?
The home sold in the $300k-$350k range in 2021, a significant increase from its $200k-$250k sale in 2017. This shows strong appreciation over that period and indicates active market interest in well-priced homes in the area.

3. How does this home compare to others on the same street?
It's one of the older homes on Waller Avenue (ranking 78th out of 85 by year built) and has a lower assessed value than most neighbours. However, its living area is close to the street average. This means you're getting similar interior space at a value-oriented entry point on the block.

4. Is the lot size a good feature?
Yes. At over 5,000 sqft, the lot is a strong asset. It's larger than many city lots and provides ample yard space, which is less common with newer infill properties. This offers privacy, recreation space, and future potential.

5. What should I consider given the home's age?
Built in 1931, the home will likely have the character and construction quality of its era, but also the associated needs. A thorough inspection is essential to understand the condition of major systems like plumbing, electrical, and the foundation, and to budget for any necessary updates or maintenance.