Property Overview: 496 Waverley Street, Winnipeg
Key Characteristics & Appeal
This home at 496 Waverley Street in North River Heights is a classic post-war bungalow, built in 1949. Its key characteristic is its efficiency: with 974 sqft of living space on a 5,204 sqft lot, it represents a more compact and manageable footprint within a desirable, established neighbourhood. The assessed value of $391k is notably below the average for both Waverley Street and North River Heights, yet aligns closely with the Winnipeg city-wide average, suggesting a value-oriented entry point into the area.
The appeal lies in this value proposition. It suits first-time buyers or downsizers seeking the character and location of North River Heights without the premium price tag of its larger homes. The lot size is typical for the neighbourhood, offering decent outdoor space relative to the home's size. A thoughtful perspective is that a smaller, well-maintained home of this era can offer lower utility and maintenance costs, providing a different kind of financial efficiency beyond the purchase price. It’s a practical choice for those who prioritize location and lot over square footage, viewing the home itself as a solid foundation with potential for personalization.
Frequently Asked Questions
1. How does the size of this home compare to others nearby?
At 974 sqft, the living area is significantly smaller than the average home on Waverley Street (~1,692 sqft) and in North River Heights (~1,540 sqft). This is reflected in its price and assessment, positioning it as one of the more compact options in the area.
2. Is the assessed value a good indicator of the likely selling price?
The $391k assessment is a municipal valuation for tax purposes. Notably, it sits below area averages but aligns with the city-wide average. Market conditions, the home's interior condition, and recent upgrades will ultimately determine the sale price. The last known sale was in 2016 for between $300k-$350k.
3. What are the potential benefits of a smaller home like this?
Beyond a lower entry cost, benefits often include reduced property taxes, lower heating/cooling expenses, and less space to maintain. This can free up budget for renovations, travel, or investments, appealing to a minimalist or efficiency-focused lifestyle.
4. The home was built in 1949. What should I consider?
While the build date is older than the city average, it is actually newer than many homes in North River Heights. Buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, plumbing, electrical, and foundation, and budget for potential updates.
5. How can I get the exact historical sale prices for this property?
The provided data shows sold price ranges. Due to industry regulations, exact MLS sale figures are not displayed on this site. You can request the full transaction history and exact figures by emailing the site directly for a manual lookup.