440 Waverley Street

Property Overview: 440 Waverley Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This 1942 home on a 5,857 sqft lot presents a classic North River Heights proposition. Its key appeal lies in a desirable, established neighbourhood, offering a balance of space and value. At 1,153 sqft, the living area is notably more compact than many neighbouring homes, suggesting a manageable layout that could suit downsizers, first-time buyers, or those seeking lower utility and maintenance costs. The lot size is a significant asset for the area, ranking well above the neighbourhood average, offering ample outdoor space rarely found in newer developments.

The assessed value of $494k sits around the average for the immediate street and neighbourhood but is above the city-wide average. This positions the property as a solid, mid-market entry into a sought-after area. The home’s age (84 years) is typical for the character of North River Heights, indicating potential for original charm but also implying that a buyer’s priorities should include a thorough inspection and budgeting for updates to major systems.

This property would best suit pragmatic buyers who value location and land over sheer interior square footage. It’s a practical choice for those wanting to enter a mature neighbourhood without a premium price tag for a large house, and it offers a blank canvas for gardening, expansion, or future renovation.

Frequently Asked Questions

1. How does the home’s size compare to others nearby?
The living area is below average for both Waverley Street and the wider North River Heights neighbourhood. Buyers should expect a more compact footprint compared to many surrounding homes, which often average around 1,540-1,692 sqft in the area.

2. Is the assessed value in line with recent sale prices?
The last recorded sale was between $400k-$450k in December 2020. The current assessed value of $494k is higher, which may reflect market changes, improvements, or the municipal assessment process. For verified, exact historical sale figures, a manual lookup can be requested.

3. What does the lot size mean for potential?
At 5,857 sqft, the lot is substantially larger than the North River Heights average (~5,054 sqft). This is a key feature, offering valuable outdoor space and potential for additions, a large garden, or landscaping projects, subject to local zoning.

4. What should I consider given the home’s age?
Built in 1942, the home is older than most in Winnipeg. Prospective buyers should prioritize inspections for foundational integrity, roofing, plumbing, electrical systems, and insulation. Budgeting for modernizations or unforeseen repairs is advisable.

5. How does this property rank compared to others in the city?
City-wide, this home ranks above average in assessed value (top 21%) and has a larger-than-typical lot (top 36%). Its living space is near the city median (top 55%). This highlights its position as a land-value proposition in a premium neighbourhood rather than a large interior space.