Property Overview: 428 Waverley Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a well-established 1,488 sqft home built in 1942, situated on a 5,204 sqft lot in the desirable North River Heights neighbourhood. Its primary appeal lies in its solid, middle-of-the-road positioning. The home offers more living space than the Winnipeg average and holds an assessed value ($442k) that is notably above the city-wide benchmark, suggesting good value retention for its vintage. However, within its own prestigious street and neighbourhood, the lot size is smaller than typical, and both the living area and assessed value are around or slightly below the local averages. This creates a unique value proposition: you are buying into a prime area with mature charm and stability, but in a package that may be more manageable and potentially more affordable than the larger estates on the block. It would suit a practical buyer who prioritizes location and neighbourhood character over sheer size—perhaps a small family, a professional couple, or a downsizer seeking a classic home without the upkeep of a massive lot, while still benefiting from the community's amenities and prestige.
Frequently Asked Questions
1. How does this home’s value compare to others in North River Heights?
The home’s assessed value of $442k is around the neighbourhood average. It positions the property as a typical entry into North River Heights, rather than one of its larger or more renovated estates, which often have higher assessments.
2. Is the lot size a disadvantage?
While the lot is smaller than others on Waverley Street, it is very close to the average for North River Heights as a whole. This could mean less maintenance and landscaping work, which some buyers may prefer, though it offers less space for expansions or large outdoor amenities.
3. What might the 1942 construction date mean for me?
Built in the early 1940s, this home likely has classic character and solid construction. Buyers should budget for age-related updates, such as plumbing, electrical, or insulation, to modernize efficiency while preserving its historic charm.
4. The last sold price shown is from 2020. What does that indicate?
The 2020 sale price (in the $300k-$350k range) and the current $442k assessment highlight significant appreciation over four years. This strong growth trajectory underscores the neighbourhood's enduring desirability and market strength.
5. How does this home fit within the context of the entire city?
City-wide, this property stands out as above average in both size and value. It offers more living space than the typical Winnipeg home and carries an assessed value in the top 30% citywide, reinforcing that it represents a step up into a established, sought-after community.