Property Overview: 102 Lake Grove Bay, Waverley Heights
Key Characteristics & Appeal
This well-situated home at 102 Lake Grove Bay presents a compelling opportunity in Winnipeg’s Waverley Heights neighborhood. Its primary strength lies in its above-average positioning across multiple metrics, particularly for buyers who value a proven and established location.
The home itself is notably newer than most on its street, built in 1981, ranking it in the top 2% locally. It offers a comfortable 1,618 sqft of living space, which is larger than the averages for the immediate street, the wider neighborhood, and the city itself. The assessed value of $487k reflects this desirable positioning, ranking well above area and city averages, which suggests a premium for the specific location and property attributes. The lot size is generous at nearly 7,000 sqft, providing ample outdoor space that exceeds typical city and neighborhood footprints.
The appeal here is one of relative stability and quiet outperformance. It’s a property that doesn’t just meet neighborhood standards but consistently exceeds them, offering a sense of being in a better-than-average pocket of an already well-regarded area. This home would suit practical buyers looking for a move-in ready property in a mature community, as well as those who appreciate tangible metrics—it’s a home that performs well statistically on paper, not just in person. It’s particularly suited for someone who prioritizes space, a newer build (for the area), and a lot size that allows for privacy and outdoor enjoyment without the upkeep of an excessively large yard.
Frequently Asked Questions
1. What does the "Elite" ranking for the year built actually mean?
It means this home, built in 1981, is the newest among the 56 comparable properties analyzed on Lake Grove Bay. It indicates a potentially more modern construction style and systems than its immediate neighbors.
2. The assessed value is higher than the street average. Is that good or bad?
It’s a double-edged indicator. Positively, it reflects that the property is considered more valuable than many around it, often due to its size, condition, and newer build date. However, it also means your property taxes will likely be higher than if the home was assessed at or below the street average.
3. How should I interpret the lot size being "around average" for the street but "above average" for the neighborhood?
This tells you that Lake Grove Bay is a street with consistently larger lots. So, while your lot is typical for this specific desirable street, it is still more spacious than what you’d find in most of Waverley Heights overall. You’re getting the street’s character of larger properties.
4. Does "Above Average" ranking mean the home needs no updates?
Not necessarily. The rankings are based on quantitative data like square footage and year built, not qualitative condition or interior finishes. A 1981 home, while newer than its neighbors, may still require modernizing to suit contemporary tastes.
5. Who determines these comparisons and rankings?
The analysis is generated from a dataset of all city properties, grouping "comparable homes" likely by type and size. The benchmarks (street, neighborhood, city) are calculated medians, providing a factual context for how this specific property measures up statistically within different geographic circles.