155 Lake Village Road

Property Overview: 155 Lake Village Road

Key Characteristics & Appeal

This 1,156 sqft home, built in 1977, presents a compelling mix of above-average living space on a modest lot. Its primary appeal lies in its strong positioning within its immediate locale on Lake Village Road. Here, the living area is notably generous, ranking in the top 1% for size compared to other homes on the street. This suggests a home that feels more spacious than many of its direct neighbors. The assessed value of $313k is very close to the street average, indicating a fair market alignment.

The property suits buyers seeking value and space within a specific, well-regarded street, rather than a large lot. It’s ideal for those who prioritize interior square footage over extensive yard maintenance. A thoughtful perspective is that while the lot size is smaller than broader area averages, this often translates to lower upkeep and can be a smart trade-off for the significantly larger-than-street-norm living area. The home represents a solid, middle-ground option: it doesn’t command a premium price for the Waverley Heights neighborhood, yet it offers one of the more substantial interiors on its block.

Frequently Asked Questions

Q: How does the home’s value compare to the wider neighborhood?
A: The assessed value is below the Waverley Heights neighborhood average, which could represent a value opportunity for entering this area, especially paired with the home’s above-average living space for its street.

Q: Is the lot size a significant drawback?
A: It depends on your priorities. The lot is smaller than most in the wider neighborhood and city. However, it is closer to the average for Lake Village Road itself. This is typical for older, established streets and means less yard work but potentially less private outdoor space.

Q: The home was built in 1977. What does that imply?
A: It is actually newer than many Winnipeg homes and is above average for its street. Homes from this era often feature modern layouts and wiring, but prospective buyers should still consider the condition of major systems like roof, windows, and plumbing, which may be due for updates.

Q: What does the "top 1% living area on this street" ranking mean practically?
A: It means that compared to the 142 similar homes on Lake Village Road, this property has more interior space than 99% of them. You are getting one of the largest homes on the block, which is a distinct advantage not reflected in its assessed value being near the street average.

Q: Are property taxes likely to be high here?
A: Based on the assessed value being below the neighborhood average, the property taxes would likely be correspondingly lower than for a home at the neighborhood’s average assessed value. However, the final tax bill is determined by the city’s mill rate applied to this assessment.