183 Waverley Street

Property Overview: 183 Waverley Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home on Waverley Street in North River Heights is defined by its substantial scale and premium positioning. Its primary appeal lies in offering significantly more space—both indoors and out—than most homes in Winnipeg. With 2,556 sqft of living area, it ranks in the top 5% for size within its desirable neighbourhood and the top 3% city-wide. The 7,215 sqft lot is equally impressive, placing in the elite top 4% for the area, providing rare potential for gardens, expansion, or simply ample private space.

Built in 1931, the home is notably older than the city average. This isn't a modern build, but rather a classic property whose value is anchored in its generous proportions and location. The assessed value of $775k reflects this, ranking in the top 4% for North River Heights. The last known sale was between $650k-$700k in mid-2017.

This property would best suit a buyer who prioritizes space and established character over new construction. It’s ideal for someone looking for a long-term family home with room to grow, or for a purchaser who sees value in a larger, older lot with redevelopment or renovation potential. It appeals to those who understand that in mature neighbourhoods, the land and the square footage often carry more weight than the year on the deed.

Section 2: Frequently Asked Questions

1. How does the age of the home (1931) affect its value and appeal?
While older than average, the home's high assessed value indicates that its substantial size and lot have outweighed age as primary value drivers. It suggests the market views it as a solid, character home or a prime redevelopment site, rather than a dated property.

2. Is the assessed value a reliable indicator of the likely selling price?
The assessed value ($775k) is for municipal tax purposes and is a historical snapshot. It confirms the property is in a high-value bracket. The more relevant market data is the 2017 sale price ($650k-$700k), though current conditions would determine today's price. The high assessment does signal strong equity and a premium positioning.

3. What does it mean that the lot size is in the "top 4%" for the area?
This is a key feature. It means you're getting a much larger yard than almost all neighbours. This offers greater privacy, more green space, and potentially more flexibility for additions, a garage, or a future laneway house, subject to zoning.

4. The home sold in 2017. Why is there no more recent sale data shown?
The site explains that its sold price data is gathered from public, non-MLS sources and may have gaps. For fully verified and exact transaction history, you must request a manual lookup from their team, as MLS data is not displayed due to industry rules.

5. The living area is much larger than nearby homes. What are the trade-offs?
The space is a major advantage. However, a home of this size and age may come with higher utility costs, potentially more maintenance, and a different layout than a modern open-concept design. It's a trade-off of volume and potential for vintage charm versus the convenience of a newer, more efficient build.