Property Summary: 130 Lake Village Road, Waverley Heights
Key Characteristics & Appeal
This 1977-built home on a massive 12,922 sqft lot presents a compelling value proposition defined by its exceptional outdoor space and solid foundation. Its primary appeal lies in the rare lot size, which is elite at every level—ranking #1 on its street and in the top 1% of the Waverley Heights neighborhood. This offers unparalleled potential for expansion, gardening, recreation, or simply enjoying generous private space, a rarity in the city.
The 1,152 sqft living area is comfortably above average for Lake Village Road itself, suggesting a well-sized home for its immediate context. With an assessed value of $322k, it sits above the street average but notably below the wider neighborhood average, indicating a potentially attractive entry point into the area. This combination creates a unique profile: a home with a modest footprint on a premium lot, offering a lower property tax base relative to neighborhood norms while holding significant future potential.
This property would best suit practical buyers who prioritize land over lavish interiors. It’s ideal for those seeking a long-term family home with room to grow, DIY enthusiasts or builders looking for a project with a superb canvas, or value-conscious purchasers aiming for a strong foothold in the neighborhood without paying for a maximized house size.
Frequently Asked Questions
Q: How does the home’s value compare to the area?
A: Its assessed value is above the average for Lake Village Road but below the average for the broader Waverley Heights neighborhood. This suggests it may offer a more affordable entry into the area, potentially with a corresponding property tax advantage.
Q: What does the "elite" lot ranking actually mean for me?
A: It means the lot size is exceptionally large compared to almost all nearby properties. This isn't just about a big yard; it provides tangible privacy, space for additions like a garage or suite (subject to zoning), and fewer constraints from neighboring homes.
Q: Is the living space too small for the neighborhood?
A: Not at all. While the home’s footprint is modest, its living area is actually above the average for its own street. The neighborhood average is pulled higher by larger, newer homes. This property offers a different balance—more land, less built space.
Q: The home was built in 1977. Should I be concerned about major updates?
A: The year built is typical for the street and area. Buyers should budget for standard due diligence on major systems (roof, HVAC, windows) common to homes of this era, as with any property nearly 50 years old. Its average ranking here suggests it’s in line with local expectations.
Q: Why is the city-wide ranking for land area only "Top 3%" and not higher?
A: While the lot is massive for its neighborhood, the city-wide comparison includes many rural or large-acreage properties on the outskirts. A "Top 3%" city-wide ranking still confirms it is a very substantial urban lot, far exceeding the typical Winnipeg property.