Property Overview: 243 Waterloo Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home at 243 Waterloo Street presents a compelling blend of established character and above-average investment metrics. Built in 1931, it is a classic North River Heights property that sits on a 4,821 sqft lot. Its primary appeal lies in its generous 1,797 sqft of living space, which ranks consistently above average for its street, neighborhood, and the entire city. This suggests a home that offers more interior room than many of its peers.
The standout feature is its assessed value of $659,000, which places it in the top tier of homes citywide (top 5%) and well above average for the immediate area. This indicates a property perceived to have high value, likely due to its size, condition, location, or a combination of these factors. Interestingly, while the lot size is slightly below average for Waterloo Street itself, it is typical for the wider North River Heights area. This points to a property where the value is driven more by the home's structure and less by an expansive yard.
This home would suit buyers looking for a established, spacious character home in a desirable neighborhood, who prioritize interior space over a vast lot. It’s also a strong fit for those attuned to property valuation metrics, as its "elite" city-wide assessment ranking suggests a solid underlying asset value. The recent sale in mid-2024 (for an estimated $650k-$700k) confirms strong market activity at this level.
Frequently Asked Questions
1. What does the "Elite" assessed value ranking actually mean?
It means this home's municipal assessed value is higher than approximately 95% of all residential properties in Winnipeg. This is a strong indicator of its perceived market value relative to the broader city, often reflecting factors like location, size, and property condition.
2. The lot size is noted as "below average" for the street. Is this a concern?
While the lot is smaller than the average on Waterloo Street, it is very typical for the North River Heights neighborhood overall. This is common in established areas where lot sizes can vary. The data suggests the property's value is weighted more toward the living space and structure.
3. How does a 1931-built home compare in terms of maintenance?
Being 95 years old, this home is older than the average Winnipeg house. Prospective buyers should budget for and prioritize a thorough inspection to understand the condition of major aging components like the roof, foundation, plumbing, and electrical systems, which may require updates.
4. The home recently sold. Why is that price information limited?
Due to industry regulations, precise MLS sale data is not publicly displayed. The provided price range is based on publicly available data. For the exact sale price and a verified transaction history, you must request a manual lookup from the site, which they provide via email.
5. The living area is above average, but how might the layout function for modern living?
While spacious, a home from this era may have a more compartmentalized floor plan compared to modern open-concept designs. Consider how the room flow and layout align with your lifestyle, and factor in the potential value of original character features versus the cost of any desired reconfiguration.