Property Overview
441 Waverley Street is a 907 sqft bungalow built in 1941, situated on a 4,823 sqft lot in Winnipeg's North River Heights neighbourhood. With an assessed value of $377k, it presents a specific and compelling opportunity in the market.
Key Characteristics, Appeal & Ideal Buyer
This home’s primary characteristic is its compact size, placing it well below the average living area for its street and neighbourhood. This translates to a lower price point, making it one of the more accessible entry points into the desirable North River Heights area. Its appeal lies in this value proposition: ownership in a established, central community for a cost that aligns more closely with the Winnipeg city-wide average.
The lot size is fairly standard for the neighbourhood, offering typical yard space. The home’s age (85 years) suggests a classic character but also implies that updates and maintenance will be important considerations.
This property would best suit a first-time buyer, a downsizer, or an investor looking for a manageable footprint in a prime location. It’s for someone who prioritizes neighbourhood over square footage and sees potential in a home that may require personalization or phased updates. A thoughtful perspective is that this smaller, more affordable home on a street with larger, more expensive properties could offer a unique sense of community and stability, without the premium price tag of its neighbours.
Frequently Asked Questions
1. Why is the assessed value lower than the street average?
The assessed value is primarily lower due to the home's significantly smaller living area compared to others on Waverley Street. Lot size and the home's age are also factors considered in the assessment.
2. What does the sold price history from 2016 indicate?
The home sold for between $300k and $350k in mid-2016. This historical data provides a benchmark, showing how the property's market value has appreciated over nearly a decade relative to its current assessed value.
3. Is the smaller living area a disadvantage?
It depends on your needs. For those seeking a lower-maintenance, more affordable home in the area, it's an advantage. It may be a constraint for growing families but ideal for individuals, couples, or those looking to minimize space.
4. How does this property compare to others in Winnipeg overall?
City-wide, this home is much more aligned with averages. Its living area is below average but closer to the norm, and its assessed value is near the city-wide median, highlighting that its price is more typical when viewed outside its immediate, high-demand neighbourhood.
5. Where can I get verified sale history and exact figures?
The displayed sold price is an estimate from public data. For fully verified transaction history and exact sale prices, you must request a manual lookup via email through the site, as this information is not sourced from the MLS.