Property Summary: 170 Lake Village Road, Winnipeg
Key Characteristics & Appeal
This 1977-built home in Waverley Heights presents a compelling case for value-focused buyers. At 800 sqft, its living space is notably compact, ranking below average for its street, neighborhood, and city. However, this is balanced by a land area of 4,198 sqft, which is above average for Lake Village Road, offering valuable outdoor space relative to immediate neighbors.
The home’s primary appeal lies in its strong assessed value of $318k, which ranks in the top 18% on its own street, suggesting it is viewed favorably compared to nearby properties. This creates an interesting dynamic: you are acquiring a property with a premium assessment on its block, yet one with a smaller footprint and a more modest price point than the broader Waverley Heights area average.
This property would suit first-time buyers, downsizers, or investors seeking an entry point into a well-regarded neighborhood without the premium typically attached to larger homes in the area. It’s for those who prioritize land value and location over interior square footage, and who see potential in a manageable, classic layout that may be easier and more affordable to maintain, update, or customize over time.
Frequently Asked Questions
1. Is the living area too small?
At 800 sqft, the home is compact. It’s best suited for individuals, couples, or small families who value efficient living and lower utility costs. The space is functional, but those needing multiple large bedrooms or extensive living areas may find it limiting.
2. Why is the assessed value so high relative to the home's size?
The assessment reflects the property’s overall value, which includes its desirable lot size on Lake Village Road, the general stability of the street, and the broader Waverley Heights location. Assessors consider land value and market trends, not just square footage.
3. How does the lot size compare to others?
The lot is a key feature. At over 4,000 sqft, it’s larger than the average lot on Lake Village Road, offering good private outdoor space. However, it is smaller than the typical lot in the wider Waverley Heights neighborhood.
4. What does the year built (1977) indicate?
Built in 1977, this home is newer than many on its street and is of a vintage where modern electrical and plumbing standards were common. Buyers should still expect a standard inspection for a home of this age, focusing on roof, windows, and major systems.
5. Is this a good investment for the neighborhood?
It represents a strategic entry into Waverley Heights. You’re paying less than the neighborhood average for a home with a solid assessed value foundation on its block. Future value will depend on broader market trends and any improvements made to the property itself.