Property Overview: 505 Waterloo Street, Winnipeg
Key Characteristics & Appeal
This home at 505 Waterloo Street in North River Heights presents a solid, mid-century property built in 1948. With 1,270 square feet of living space, it offers a manageable size that is slightly below average for its immediate street but aligns more closely with the typical Winnipeg home. Its assessed value of $485,000 sits above the city-wide average, suggesting a perception of quality and a desirable location, even though it is modest relative to some neighboring homes on Waterloo Street.
The appeal lies in its established neighborhood setting and its position as a home that offers city-wide value. For a buyer, it represents an entry into a well-regarded area without the premium price tag of the largest lots or newest homes on the block. The lot size of 4,821 sqft is smaller than many on its street, which could mean less maintenance—a potential upside for some. This property would likely suit a first-time buyer or a downsizer seeking character in a mature neighborhood, who prioritizes location over sheer size and is comfortable with a home of this vintage. It’s a practical choice for someone looking for a balanced investment in a stable area.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
At 1,270 sqft, the living area is smaller than the average home on Waterloo Street but is quite typical when compared to the broader North River Heights area and the city as a whole. It’s a comfortable, mid-size footprint.
2. Is the assessed value of $485,000 high for Winnipeg?
Yes, it is above the Winnipeg city-wide average for assessed value. This indicates that assessors attribute a higher value to this property, likely due to factors like its North River Heights location, even though it’s not the most expensive on its own street.
3. What should I know about a home built in 1948?
As a home nearing 80 years old, prospective buyers should budget for and prioritize a thorough inspection. While these older homes often feature solid construction and charm, key systems like plumbing, electrical, and the roof may need updating or careful evaluation.
4. The lot seems smaller than others on the street. Is that a disadvantage?
The lot is below average for Waterloo Street. This could mean a smaller yard, but also less upkeep. For buyers who prefer more indoor space or low-maintenance outdoor areas, this could be a neutral or even positive point.
5. Can I get the exact sale price from 2021?
The site shows a sold price range of CA$400k–450k for June 2021. To obtain the exact sale price and full transaction history, you must request a manual lookup via email, as this data is not sourced from the MLS.