Property Summary: 187 Waverley Street, Winnipeg
Key Characteristics & Appeal
This home is defined by its generous proportions and established presence in North River Heights. Its primary appeal lies in offering above-average space both inside and out. With 2,271 sqft of living area, it ranks in the top 10% of homes in the neighbourhood and the top 5% city-wide, providing significant room for a growing family or those who value spacious interiors. The 7,217 sqft lot is particularly notable, placing in the elite top 3% for lot size within North River Heights, offering rare potential for gardens, expansion, or simply ample private outdoor space.
Built in 1925, the home is one of the older properties on the street, which suggests classic character but also implies that a buyer's appreciation should extend to the stewardship of a century-old structure. The assessed value of $587k is consistently above average across all comparison levels, reflecting its substantial footprint and desirable location.
This property would best suit a buyer who prioritizes space and land over a modern, turn-key build. It’s ideal for those who see value in a home with established roots and the potential to customize, and who are prepared for the maintenance or updates that come with a character home. It represents a solid investment in one of Winnipeg’s sought-after neighbourhoods, trading the newness of a contemporary build for the enduring appeal of lot size and interior volume.
Frequently Asked Questions
1. How does the age of the home (1925) impact its value and appeal?
While its age places it below the average year built for the area, this is a key contributor to its character and is often factored into the assessed value. It appeals to buyers seeking classic architecture but requires a mindful approach to maintenance and potential updates to mechanical systems or insulation.
2. The lot size is in the top 3% for the neighbourhood. What does this mean practically?
This is a standout feature. It means you have significantly more outdoor space than most properties in North River Heights, allowing for larger gardens, recreational areas, or future additions like a garage or deck, subject to zoning bylaws.
3. The assessed value is above average. Is the asking price likely to be higher?
Assessed value is used for municipal tax purposes and is a strong indicator of market value, but not a direct predictor of list price. The final sale price is determined by the current market. The consistent "above average" ranking suggests a solid valuation foundation.
4. What can the 2019 sale price tell me?
The previous sale price (listed in a $500k-$550k range) provides a historical benchmark. Given the time elapsed and market changes, it primarily shows the property’s price trajectory and should be considered alongside current assessments and market conditions.
5. How reliable is this comparative data?
The rankings are based on robust, publicly available municipal data for assessed values and living areas, offering a reliable comparative snapshot. Sold price data is sourced from public records but is presented in ranges for non-members; exact figures can be requested for verification.