204 Waterloo Street

Property Overview: 204 Waterloo Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home is defined by its modern build, generous interior space, and premium valuation within a well-established neighbourhood. Built in 2020, it is a notably newer property compared to most homes on its street and in North River Heights, where average construction dates are from the 1930s and 1940s. With 2,558 sqft of living area, it offers significantly more interior space than the typical home in Winnipeg, ranking in the top 3-8% across comparison groups.

The property’s primary appeal lies in its combination of a contemporary, low-maintenance structure within a mature, sought-after area. Its assessed value of $1.28M places it in the elite top 1-4% of homes city-wide, underscoring its premium market position. The lot size of 4,822 sqft is generally in line with neighbourhood averages, suggesting the value is driven by the home itself rather than an exceptionally large yard.

This property would best suit buyers seeking a modern turn-key home without sacrificing location. It appeals to those who value newer construction (and the associated efficiency standards, warranties, and modern layouts) but want the established trees, character, and convenience of the River Heights area. It is a strong match for professionals or families looking for move-in-ready space and who are comfortable with a valuation that reflects a top-tier asset in the city’s market.

Frequently Asked Questions

1. Why is the assessed value so much higher than the neighbourhood average?
The assessed value reflects the property’s modern build year (2020) and its large, high-quality living area. It is evaluated as a new construction home among a housing stock where most properties are decades older, justifying its position in the top 1% of homes city-wide for value.

2. What does the sold price history indicate?
The home sold in October 2020 for between $1.2M and $1.25M. This past sale, occurring soon after construction, established a high-value benchmark that is consistent with its current elite assessment tier.

3. Is the lot size a disadvantage?
Not necessarily. While the land area is around the neighbourhood average, the property’s value is primarily in the structure itself. For buyers prioritizing interior space and modern amenities over extensive outdoor space, this is a typical and balanced lot for the area.

4. How does this home compare to its immediate neighbours?
The data shows it ranks 13th of 322 homes on Waterloo Street for assessed value and 9th for year built. This indicates it is one of the newest and most highly valued properties on the block, likely standing out in terms of size and modern features among older homes.

5. What is a less obvious consideration with a newer home in this area?
While offering modern comforts, the architectural style and scale of a 2020-built home may differ from the traditional character of North River Heights. Buyers should consider how the property fits the streetscape aesthetically, which can be a subjective point of preference.