Property Overview: 296 Waverley Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This 1,750 sqft home, built in 1928, presents a compelling mix of established character and above-average valuation within the Winnipeg market. Its primary appeal lies in its strong positioning relative to broader city metrics. The home’s assessed value of $626k ranks within the top 6% city-wide, indicating a premium valuation that outpaces the typical Winnipeg home. The living space is also notably above the city-wide average, offering more room than roughly 80% of properties across Winnipeg.
Situated on a 5,207 sqft lot in the desirable North River Heights area, the lot size is typical for the neighbourhood but smaller than most on Waverley Street itself. This suggests a more manageable yard with less maintenance, which can be a hidden benefit for many buyers. The home’s age (98 years) means it likely possesses classic architectural charm but also implies that a buyer’s inspection and potential updates should be carefully considered.
This property would best suit buyers looking for a well-sized, established home in a prime neighbourhood who value a strong investment profile. It’s ideal for those who appreciate character homes and are prepared for the realities of an older property, while also placing importance on its statistically above-average value and space compared to the wider market.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $626k is for municipal tax purposes and serves as a useful benchmark. Notably, it ranks in the top 11% for North River Heights and the top 6% city-wide, signaling the property is in a premium bracket. The final sale price will be determined by current market conditions, the home’s specific condition, and buyer demand.
2. What should I know about a home built in 1928?
Homes of this era often feature solid construction and classic design elements like original hardwood or layout. Buyers should prioritize a thorough inspection to understand the state of major systems (plumbing, electrical, roof) and potential need for updates, which can be an opportunity to customize.
3. The lot is smaller than others on Waverley Street. Is that a disadvantage?
While the lot is below the street average, it is very close to the average for North River Heights overall. This often translates to less yard maintenance, which can be a practical advantage. It may also mean a closer proximity to the house’s neighbours.
4. The home last sold in 2021. What does that recent history indicate?
The sale in August 2021 (for an estimated $550k-$600k) during a strong market period provides a relevant, modern price point for comparison. Understanding any changes or improvements made by the current owners since that purchase would be valuable context.
5. How does this home compare to others in the area?
The data shows this home offers more living space than about 70% of properties in North River Heights and is valued higher than nearly 90% of them. This indicates you are getting an above-average sized home for the neighbourhood, with an assessed value that reflects its premium standing.