Property Overview: 492 Waverley Street, Winnipeg
Key Characteristics & Appeal
This home at 492 Waverley Street in North River Heights is a well-situated, post-war property that presents a balanced and practical opportunity. Built in 1948, it offers 1,598 sqft of living space on a 5,210 sqft lot. The data reveals a home that is consistently "around average" within its immediate street and neighborhood context for size, value, and lot, but stands out as "above average" in living space and assessed value when compared to the entire city. This suggests you're getting a solid, established property in a desirable area without a premium for extreme size or newness.
Its appeal lies in its stability and location. The home is situated in a mature neighborhood where properties from this era are the norm, offering character and established greenery. A thoughtful perspective is that its very averageness on the street could be an advantage, indicating a predictable streetscape and stable property values without the pressure of being the smallest or largest home on the block. It would suit a buyer looking for a move-in ready home (last sold in 2017, suggesting some modern updates) in a prime neighborhood, who values space efficiency over a sprawling footprint, and who appreciates a property that holds its value well against the broader city market.
Frequently Asked Questions
1. How does this home's value compare to recent sales on the street?
The home last sold between $350,000-$400,000 in late 2017. Current assessed value is $450,000. This indicates appreciation, but for precise, verified sale figures of nearby properties, a manual lookup of MLS records is required.
2. Is the lot size a disadvantage?
At 5,210 sqft, the lot is smaller than the average for Waverley Street but is very close to the average for North River Heights. It provides ample outdoor space for a garden or patio while likely requiring less maintenance than larger lots on the street.
3. What does the "above average" city-wide ranking for year built mean?
While 1948 is newer than many Winnipeg homes, this ranking primarily indicates the home is older than the city's median. In a neighborhood like North River Heights, where homes are predominantly from this era, it fits right in. This isn't a negative, but a sign of a character home in a mature area.
4. Are there newer or significantly larger homes nearby?
Yes, the listing references a nearby home built in 2021. This highlights the mix of old and new in the area. This property represents the established, classic housing stock rather than new construction.
5. How current and reliable is this assessed value?
The assessed value of $450,000 is an official municipal assessment for taxation purposes, not a market appraisal. It's a useful benchmark showing the home is valued above the city average, but the final market price is determined by current buyer demand and condition.