Property Overview: 392 Waterloo Street, Winnipeg
Key Characteristics & Appeal
This home at 392 Waterloo Street in North River Heights is a compact, character property built in 1931. Its primary characteristic is its modest 973 sqft living area, which is notably smaller than most homes on its street and in the wider area. This positions it as an efficient, lower-maintenance footprint. The lot size of 4,822 sqft is fairly typical for the neighbourhood, offering decent outdoor space relative to the home's size.
The appeal lies in its value proposition and location. With an assessed value of $433,000, it sits at a more accessible entry point into the desirable North River Heights area compared to the street's average home value. It recently sold within the $400k-$500k range, confirming its market position. This isn't a sprawling character home, but rather a practical one. It would suit first-time buyers seeking neighbourhood over square footage, downsizers looking to maintain a garden without the upkeep of a large house, or value-focused investors attracted to a stable, established area. A thoughtful perspective is that its smaller size could mean proportionally lower renovation costs if updates are needed, and its older vintage offers the potential for classic architectural charm not found in newer builds.
Frequently Asked Questions
1. How does the home's size compare to others nearby?
The living area is 973 sqft, which is significantly below the average for Waterloo Street (~1,633 sqft) and North River Heights (~1,540 sqft). It is a compact home.
2. Is the assessed value in line with the area?
Yes. The $433,000 assessment is around the average for the immediate area and above the Winnipeg citywide average, reflecting the premium for the North River Heights location.
3. What are the recent sold prices for this property?
Public records indicate it sold in mid-2023 for between $400,000 and $450,000, and again in late 2023 for between $450,000 and $500,000. Exact sale prices require a manual lookup request through the site.
4. How old is the home, and what does that mean?
The home was built in 1931. This means it likely has character details but may also require attention to aging components like plumbing, electrical, or insulation, which should be evaluated during an inspection.
5. Is the lot size a good feature?
The lot of 4,822 sqft is reasonably standard for the area. It provides good outdoor space, which is a positive, especially since the home itself is smaller, balancing indoor and outdoor utility.