Property Summary: 22 Lowell Place
Section 1: Key Characteristics & Appeal
This home presents a compelling blend of space, value, and location within Winnipeg's Waverley Heights neighborhood. Its primary appeal lies in its efficient use of a generous lot. While the living area (1,176 sq ft) is modest compared to others on its specific street, the property sits on a land parcel (6,656 sq ft) that is notably larger than both neighborhood and city averages. This creates significant potential for outdoor living, gardening, or future expansion.
The assessed value of $424k positions it as a more accessible entry point on Lowell Place itself, while still being aligned with broader area averages. Built in 1976, it is the newest home on its street, which may suggest updates or a later construction style than immediate neighbors. This property would suit value-conscious buyers seeking a home with ample yard space in a well-established area. It’s ideal for those who prioritize land size over interior square footage and who see potential in the disconnect between the home’s current footprint and the possibilities of its sizable lot. It represents a practical choice for someone looking to put down roots in the neighborhood without the premium price tag of the street’s largest homes.
Section 2: Frequently Asked Questions
1. Is the living area too small for the neighborhood?
While below average for Lowell Place itself, the home’s living area is actually close to the average for both Waverley Heights and Winnipeg overall. It offers a comfortable size that is efficient to maintain and heat.
2. Why is the assessed value lower than the street average?
The assessed value reflects factors including the home’s smaller living area relative to its neighbors and its land size ranking on the street. This can represent a value opportunity, as you gain a large lot in a desirable location at a assessed value that is competitive with the wider market.
3. What are the implications of it being the newest home on the street?
Being built in 1976 likely means construction methods and materials are more modern than some neighbors. It may also indicate that major components like the roof, windows, or foundation could be younger than the street’s average, but a specific inspection is needed to confirm condition.
4. How should I interpret the large lot size?
The lot is a key feature. It’s larger than most in the city and neighborhood, offering more privacy, recreation space, and greenery than typical. It’s a long-term asset that provides options not available with a standard-sized lot.
5. Does ranking 7th out of 9 for value on the street mean it’s a poor investment?
Not necessarily. Rankings show relative position. This home offers a way to live on a desirable street at a lower entry point. Its value is solidly above the city average, and its appeal comes from the combination of location, lot size, and a newer build year, rather than just having the highest absolute valuation.