Property Summary: 177 Lake Village Road, Winnipeg
Section 1: Key Characteristics & Appeal
This 800 sqft bungalow, built in 1977, presents a specific and compelling value proposition. Its primary appeal lies in its position as a more affordable entry point into the desirable Waverley Heights neighborhood. While its living space and lot size (2,986 sqft) are notably below area averages, this translates to a lower assessed value ($298k) compared to nearby homes. This creates an opportunity for buyers seeking location over square footage.
The home would suit first-time buyers, downsizers, or investors looking for a manageable property in a well-regarded area without the premium price tag of a larger house. It’s a practical choice for those who prioritize community and accessibility over expansive indoor and outdoor space. A less obvious perspective is that a smaller, efficiently designed home on a modest lot can mean significantly lower utility costs, property taxes, and maintenance time, offering a different kind of luxury: simplicity and financial ease.
Section 2: Frequently Asked Questions
1. Is the smaller living area a concern?
The living area is compact at 800 sqft, ranking below averages for the street, neighborhood, and city. This suits a minimalist lifestyle or smaller household but requires thoughtful space planning.
2. How does the assessed value compare?
At $298,000, the assessment is below the local street average ($309.5k) and significantly below the wider neighborhood average ($398.1k). This suggests the price reflects the home’s smaller scale, not its location.
3. What does the lot size mean for me?
The lot is 2,986 sqft, which is smaller than most in the area. This means less yard maintenance but also limited space for large additions, pools, or extensive landscaping compared to neighbors.
4. Is the 1977 build date a positive?
On Lake Village Road, its 1977 build is newer than most (top 12%), suggesting potentially updated infrastructure compared to older street peers. For the wider city, it’s around the average age.
5. Who is this property not suited for?
It may not suit buyers needing multiple large bedrooms, dedicated home office spaces, or those who desire a large, private backyard for gardening or recreation, given the below-average dimensions.