Property Summary: 201 Lake Village Road, Waverley Heights, Winnipeg
Key Characteristics & Appeal
This 936 sqft bungalow, built in 1978, presents a compelling value proposition rooted in its specific context. Its primary appeal lies in being a well-maintained, modern home for its immediate street. While its living and land area are below the broader neighborhood and city averages, it ranks exceptionally well on Lake Village Road itself—particularly for its newer construction (top 1% on the street) and above-average assessed value (top 14%). This suggests a home that has been updated and cared for relative to its direct peers.
The property suits practical buyers seeking a manageable, low-maintenance footprint without sacrificing a sense of space indoors. It’s an intelligent choice for first-time buyers, downsizers, or investors who prioritize a modernized structure in a mature neighborhood over a large lot. A thoughtful perspective is that its smaller lot size, while below area averages, translates to less yard work and lower exterior maintenance costs—a hidden benefit for those seeking a lock-and-leave lifestyle or wishing to allocate time and budget elsewhere. Its value is less about sprawling square footage and more about offering quality and modernity within a efficient, affordable package on a street of similar homes.
Frequently Asked Questions
Q: How does the smaller living area compare to other homes nearby?
A: At 936 sqft, the home is very close to the average for Lake Village Road itself, but below the wider Waverley Heights and Winnipeg averages. This indicates the street consists of cozier, efficient homes, making this property a typical fit for its immediate location.
Q: The assessed value seems high for the size. Why is that?
A: The assessed value of $321k is above the street average, likely reflecting the home’s condition, updates, and the fact it is one of the newest homes on the block (built in 1978, ranking top 1% on the street). The assessment suggests it is a premium offering among comparable homes on Lake Village Road.
Q: Who would this property not be suitable for?
A: It may not suit buyers who prioritize large private yards, extensive outdoor space, or need significant room for growth within the existing footprint. The lot size is notably smaller than the neighborhood norm.
Q: What does the "top 1%" ranking for year built mean?
A: On Lake Village Road, this home is the newest or among the very newest in its comparable set. This is a significant advantage, often implying newer major systems (like roofing, plumbing, or electrical) and potentially less immediate investment in big-ticket repairs compared to older homes on the same street.
Q: Is this considered a good value for Waverley Heights?
A: It represents a more accessible entry point into the Waverley Heights neighborhood. You’re trading the larger lot and living space typical of the broader area for a lower price point and a modern, manageable home on a street with similar character. It’s value is street-specific rather than neighborhood-leading.