Property Overview: 512 Waterloo Street, Winnipeg
Key Characteristics & Appeal
This home at 512 Waterloo Street in North River Heights presents a specific and practical value proposition. Built in 1949, it is a notably newer construction compared to many homes in its immediate neighbourhood, which may appeal to those seeking a post-war character home with potentially more modern infrastructure. The key figures tell a clear story: with 1,144 sqft of living space and an assessed value of $347k, this property sits well below the averages for both its street and the broader North River Heights area. This positions it as one of the more accessible entry points into this established, desirable neighbourhood.
Its primary appeal lies in its location and lot. The 4,821 sqft land area is very close to the neighbourhood average, offering generous outdoor space relative to the home's modest size—a appealing ratio for gardeners, those who value privacy, or future expansion. The most compelling perspective is its citywide context: while it feels modest for North River Heights, its size and assessment are actually around the overall Winnipeg average. This makes it an ideal fit for first-time buyers, downsizers, or pragmatic investors seeking a lower-maintenance footprint in a prime location without the premium typically attached to larger homes on the street. It suits someone who prioritizes land and neighbourhood over sheer interior square footage.
Frequently Asked Questions
1. Why is the assessed value so much lower than other homes on the street?
The assessed value is primarily a reflection of the home's smaller living area (1,144 sqft) compared to the street average (approx. 1,633 sqft). Assessment is driven by market value indicators, and the property's modest size results in a lower valuation relative to its larger neighbours.
2. Is the sold price data shown for this specific house?
The sold price range shown (CA$350k–400k from February 2023) is for this specific property. The provided data is based on publicly available records, not the MLS. For fully verified and exact historical transaction figures, you can request a manual lookup via email from the site.
3. What does it mean that the home is "newer" for the area?
While built in 1949, this home ranks in the top 10% for year built in North River Heights, meaning approximately 90% of area homes are older. This could suggest advantages like updated wiring, plumbing, or insulation compared to many of the area's early 20th-century homes.
4. How does the lot size compare?
At 4,821 sqft, the lot is slightly below the average for Waterloo Street but is very close to the typical lot size for North River Heights as a whole. It offers a substantial yard space that is proportional to, or even exceeds, the scale of the house itself.
5. Are the rankings based on the entire city?
Yes, rankings are provided on three levels: the specific street (Waterloo Street), the neighbourhood (North River Heights), and city-wide. This shows how the property compares in different contexts—for example, while its living area is below average for its street, it is near the average for the entire city.