Property Overview: 142 Lake Village Road, Waverley Heights
Key Characteristics & Appeal
This 1977-built home in Waverley Heights presents a compelling case for value-conscious buyers seeking space and established community charm. Its primary appeal lies in its strong positioning on its specific street, Lake Village Road. With 1,152 sqft of living area, it sits comfortably above the street average, offering more interior space than most of its immediate neighbors. This is complemented by a land area of 4,734 sqft, which is notably larger than the street norm, providing generous outdoor space for a home of this vintage.
The property’s assessed value of $313k is strategically positioned: it is very close to the average for Lake Village Road, yet sits meaningfully below the wider neighborhood average. This suggests you are acquiring a home that is competitively priced within its immediate micro-market, while potentially offering an entry point into the broader, typically more expensive, Waverley Heights area. It suits first-time buyers, downsizers, or pragmatic investors who prioritize a well-sized lot and functional living space in a mature neighborhood over a newer build or a premium neighborhood address. A thoughtful perspective is that this home represents a "street standout" in key metrics, offering a relative sense of space and value on its own block, which can be a more daily tangible benefit than city-wide comparisons.
Frequently Asked Questions
1. Is this home a good value compared to others in Waverley Heights?
Based on assessed value, this property is priced below the neighborhood average, while offering above-average living space for its own street. This indicates a potentially favorable value proposition within the area.
2. How does the lot size compare?
The lot is 4,734 sqft, which is significantly larger than the average lot on Lake Village Road. However, it is below the average lot size for the wider Waverley Heights neighborhood. This means you get a sizable yard for the street, but not necessarily the largest in the broader area.
3. What does the year built (1977) tell me?
The home was built in 1977, which is typical for its street and neighborhood. This places it in an era of well-established construction standards and neighborhood maturity, but buyers should anticipate maintenance and updates consistent with a home of this age.
4. Why is the living area ranking so different from street to city level?
The living area is above average for Lake Village Road but around average city-wide. This highlights that homes on this specific street tend to be more compact, making this property a spacious option in its immediate context, even if it’s not unusually large for Winnipeg as a whole.
5. Where does the assessed value rank city-wide?
City-wide, the assessed value ranks around average (Top 67%). This reinforces that the home is priced within a common market bracket for Winnipeg, with its primary value advantages being more apparent at the hyper-local street and neighborhood level.