Property Overview: 465 Waterloo Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home at 465 Waterloo Street in North River Heights is a classic, post-war bungalow built in 1945. Its key characteristic is its position as a more modest and affordable entry point into a desirable, established neighbourhood. With 1,152 sqft of living space and a 4,822 sqft lot, it sits below the average size for both the immediate street and the broader area, but is much closer to the city-wide average for living space. This creates its primary appeal: the opportunity to own a character home in a prime location without the premium price tag often associated with larger, renovated properties on the same blocks.
The assessed value of $379k is notably below the averages for Waterloo Street and North River Heights, yet aligns closely with the Winnipeg city-wide average. This suggests a value proposition for a buyer who prioritizes location and land over square footage. The lot size is fairly typical for the area, offering good outdoor potential. Recent sale history indicates strong appreciation since 2019.
This property would best suit a first-time buyer, a downsizer, or a pragmatic investor seeking a character home in a solid neighbourhood. It’s ideal for someone comfortable with a home that may require updates, viewing it as a canvas to add value over time rather than a move-in-ready showcase. It offers a chance to gain a foothold in a community known for its charm and convenience, with the understanding that the interior space is cozy and efficient.
Frequently Asked Questions
1. Is this a good value for the neighbourhood?
Based on the data, yes. The assessed value is in the bottom 20% for Waterloo Street and North River Heights, meaning you are paying significantly less than the area norm for a home. This allows access to the neighbourhood at a lower entry point.
2. The living area seems small. How does it compare?
At 1,152 sqft, it is smaller than most homes directly on Waterloo Street and in North River Heights. However, it is only slightly below the average home size across the entire city of Winnipeg, indicating it’s a compact but not unusually small floor plan by broader standards.
3. What does the sale history tell us?
The home sold in mid-2024 and previously in 2019. The price increased from the $300k-$350k range to the $450k-$500k range over those five years, demonstrating strong market appreciation for the property.
4. How old is the home, and what should I consider?
Built in 1945, the home is 81 years old. It is actually newer than many homes in North River Heights but older than the typical Winnipeg home. Prospective buyers should budget for and prioritize a thorough inspection of aging components like the roof, plumbing, electrical, and foundation.
5. How can I find out the exact past sale prices?
The site provides sold price ranges publicly. To receive the exact sale figures, you must request them via email from the site administrators, as they manually look up and provide this data due to industry regulations.