Property Overview: 365 Waverley Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 365 Waverley Street presents a distinct profile within the desirable North River Heights neighborhood. Built in 1927, its 1,730 sqft of living space is above average for Winnipeg overall, offering comfortable room for a small family or couple. The lot size of 4,815 sqft is typical for the immediate area but is notably smaller than most others on Waverley Street itself.
The primary appeal lies in its value positioning. With an assessed value of $399k, it sits significantly below the average for both its street and the broader North River Heights area. This creates a compelling entry point into a well-established, central neighborhood known for its character, tree-lined streets, and amenities. The home last sold in 2017 for between $300k-$350k, suggesting potential for equity growth.
This property would suit a pragmatic buyer—perhaps a first-time homeowner or downsizer—who prioritizes location and liveable space over a large yard or a newer build. It’s for someone who sees the value in getting into a prime neighborhood at a relatively accessible price point and is comfortable with the character and potential maintenance considerations of a century-old home. A thoughtful perspective is that the smaller lot could mean less exterior upkeep, a potential benefit for those seeking a lower-maintenance lifestyle without sacrificing interior space.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the street and area averages?
The assessed value is a municipal calculation for tax purposes, influenced by factors like lot size, living area, age, and recent sales. This home’s smaller lot and older age compared to neighbors on larger plots likely contribute to its lower assessment, which doesn't necessarily reflect market value but indicates its relative position.
2. What does the lot size mean for outdoor space?
At 4,815 sqft, the yard is standard for Winnipeg but is one of the smaller properties on Waverley Street. It provides reasonable private outdoor space for gardening or relaxation, but may not accommodate extensive additions or large recreational structures.
3. As a 99-year-old home, what should I consider?
A home from 1927 will have character but requires diligent inspection. Key focuses should be the condition of foundational elements, plumbing and electrical updates, insulation, and windows. A well-maintained older home can be solid, but budgeting for ongoing upkeep is essential.
4. How does the living area compare practically?
At 1,730 sqft, the home is spacious by city-wide standards. It likely offers a functional layout typical of its era, which may include defined rooms rather than open-concept living. It provides ample space for daily life without being excessive to heat or maintain.
5. Where can I get verified historical sale data?
The provided sold price is a public estimate. For complete and exact transaction history, you must request a manual lookup from the site via email, as MLS sold records are not displayed due to industry regulations.