Property Overview: 164 Gull Lake Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct profile defined by its modern build and efficient use of space. Its key characteristic is being a notably newer construction (1993) within its established Waverley Heights neighborhood, ranking in the top 2% of the area for its year built. This suggests updated building systems and potentially lower immediate maintenance needs compared to older peers.
The appeal lies in a value-conscious proposition. The assessed value is consistently around the average for the street, neighborhood, and city, yet it comes with a larger-than-average lot for Gull Lake Road (ranked in the top 8% on the street). This combination offers a private outdoor space that is a premium for the immediate area. The living area, at 779 sqft, is compact and significantly below local averages, which clarifies the pricing. This isn't a sprawling home; it's a efficient, modern footprint on a desirable lot.
This property would ideally suit a first-time buyer, downsizer, or pragmatic investor seeking a low-maintenance, newer home in a mature neighborhood. It’s for those who prioritize lot size and a modern build over interior square footage, and who see the efficient layout as an opportunity for affordable entry into the area without the worries of an aging structure.
Section 2: Frequently Asked Questions
1. Is the smaller living area a drawback?
It is a defining feature. The home offers efficient, modern living but not ample space. It suits simpler lifestyles and would feel cramped for those needing multiple dedicated rooms or significant storage. The trade-off is the newer construction and the larger lot.
2. How does a 1993 build benefit me compared to older homes?
Newer construction typically means updated electrical wiring (like 100-amp service or better), modern plumbing, more recent roofing materials, and generally newer major systems. This can translate to fewer major repairs in the near term and potentially better energy efficiency.
3. The assessed value is "around average," but the house is smaller. Why?
The assessment reflects the total package: the desirable lot size for the street, the modern year of construction, and the location. The market price for newer builds on good lots often offsets a smaller square footage in established neighborhoods.
4. What does the lot size actually offer?
At over 5,600 sqft and larger than most on the street, it provides valuable outdoor privacy, space for gardening, entertaining, or future additions like a shed or deck—options that are limited on standard, smaller lots in the area.
5. Are there any concerns with such a new home in an older area?
While the systems are newer, it's still a 30-year-old home and due for routine maintenance like any property. It’s wise to check the condition of the roof, windows, and HVAC, as they are nearing or within a typical replacement age. The neighborhood context, however, is stable and well-established.