Property Overview
This home at 202 Lake Village Road presents a compelling mix of value and established character. Its appeal lies in being a well-positioned property within its immediate streetscape, offering a solid foundation in a mature neighbourhood.
Key Characteristics & Ideal Buyer
The 936 sqft bungalow, built in 1977, sits on a 4,758 sqft lot. The key perspective here is one of relative strength on its own street. While the home's size is below the broader neighbourhood and city averages, it ranks highly among its direct neighbours on Lake Village Road for lot size, assessed value, and year built. This suggests a property that holds its own in a specific, likely consistent, local context. Its assessed value of $331k is notably in the top 5% for the street, indicating perceived quality or desirability within that micro-market.
This property would suit a first-time buyer, downsizer, or pragmatic investor seeking an entry into the Waverley Heights area without the premium of a larger, newer home. It’s for someone who values a larger-than-average lot for the street and a strong relative value position on their block, over having above-average square footage. The appeal is grounded in community stability and the potential of the parcel itself, rather than in sheer size.
Frequently Asked Questions
1. Is the house smaller than others in Winnipeg?
Yes. At 936 sqft, the living area is below the citywide average for comparable homes. However, it is very close to the average size for homes specifically on Lake Village Road.
2. Why is the assessed value so high for the street?
Ranking in the top 5% on the street suggests the municipal assessment views this property favorably compared to its immediate neighbours. This could be due to the larger lot, condition, improvements, or a combination of factors.
3. What does the lot size mean for potential updates?
At nearly 4,800 sqft, the lot is significantly larger than the street average. This provides a valuable outdoor space and could offer more flexibility for additions, landscaping, or other outdoor projects than many nearby properties.
4. How does the 1977 build year compare?
The home is of average age for its street and neighbourhood, which largely consists of homes from the same era. This means major components may be due for updates, but you are in a community with similar housing stock.
5. Is this a good value for the Waverley Heights area?
The data suggests it is priced below the neighbourhood average. This reflects its smaller size but offers a way to live in the area at a different price point, making it a value-oriented choice within the community.