Property Overview: 232 Waterloo Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is defined by a compelling contrast: it is a century-old character property (built 1922) that offers significantly more interior space than most modern homes. With 2,547 sqft of living area, it ranks in the top 5% for size within the desirable North River Heights neighborhood and the top 3% citywide. This creates a rare opportunity for buyers seeking the charm and solid construction of a historic home without compromising on spacious, functional rooms.
Its appeal lies in this generous footprint, set on a standard city lot. While the lot size is typical for the area, the house itself is a standout, suggesting well-utilized space. The assessed value of $640k is consistently above average across all comparison levels, reflecting its premium positioning. The recent sale history indicates strong and accelerated value appreciation, marking it as a property in high demand.
This home would ideally suit buyers who value space and character over a new build. It’s perfect for a growing family needing room to spread out, or for someone who appreciates the narrative of a 104-year-old home in a mature, established neighborhood. It appeals to those who see the vintage as an asset and are prepared for the stewardship that comes with an older property, in exchange for unique architectural details and a sense of permanence.
Frequently Asked Questions
Q: How does the age of the home impact its value and appeal?
A: The 1922 build date is a double-edged sword. It places the home in the oldest tier on its street, which typically suggests potential for higher maintenance costs. However, in a sought-after area like North River Heights, age often translates into classic craftsmanship, mature landscaping, and established community character—factors that clearly contribute to its above-average valuation and buyer demand.
Q: The living area is large, but the lot is average. What does this mean?
A: This indicates the home likely has a substantial footprint or multiple stories, making efficient use of its land. For buyers, this means generous indoor living spaces without the extensive yard maintenance of a larger lot. It’s a configuration that prioritizes the home itself over outdoor space.
Q: The assessed value is $640k, but it recently sold for an estimated $650k-$700k. Why the difference?
A: Municipal assessed value for tax purposes often lags behind the current market. The recent sale price, ranking in the top 4% citywide, reflects what buyers are currently willing to pay in a competitive market, which is frequently higher than the assessed value.
Q: What does the recent sale history tell us?
A: The home sold twice in just over a year, with the latest sale price band being significantly higher than the previous one. This rapid resale and price jump suggest the property may have undergone renovations, its unique value was better marketed, or it simply benefited from strong market momentum in the area.
Q: Are the sold prices shown exact figures?
A: No. The prices are shown in $50k ranges based on public data. To obtain the exact, verified sale history, you must request it directly via email from the site, as they do not have access to proprietary MLS sales records.