Property Summary: 268 Lake Village Road, Winnipeg
Section 1: Key Characteristics & Appeal
This 800 sqft bungalow at 268 Lake Village Road presents a specific and compelling value proposition. Its key characteristic is its position as a more modest and affordable entry point into the well-established Waverley Heights neighborhood. Built in 1977, the home is actually newer than most on its own street and aligns with the area's average age.
The primary appeal lies in its efficient use of space and its assessed value, which is notably below averages for both the immediate neighborhood and the wider city. This creates an opportunity for buyers seeking lower property taxes and a manageable footprint without sacrificing location. The lot, while smaller than area norms, offers a low-maintenance yard.
This property would ideally suit first-time buyers, downsizers looking to rightsize, or pragmatic investors seeking a rental in a stable area. It’s for those who prioritize financial efficiency and location over sheer square footage, understanding that they are acquiring a "smaller piece of a desirable pie." A less obvious perspective is that its compact size and lower assessment could be seen as insulated advantages; in a high-interest rate environment or for those seeking sustainable living, a smaller, efficient home in a good area is a strategic choice.
Section 2: Frequently Asked Questions
1. Is the living area too small?
At 800 sqft, the home is below average in size for the street, neighborhood, and city. It requires an efficient layout and is best for individuals, couples, or small families who prioritize location and affordability over spaciousness.
2. Why is the assessed value lower than the area average?
The assessed value of $290k is significantly below neighborhood averages, reflecting the home's smaller living area and lot size. This typically translates to lower annual property taxes, which is a key part of its affordability.
3. What does the "newer than street average" year built mean?
Built in 1977, this home is newer than many on Lake Village Road. This suggests potentially fewer immediate concerns with major aging components compared to older peers, though a full inspection is always recommended.
4. How does the lot size impact the property?
The lot is approximately 3,000 sqft, which is smaller than most in Waverley Heights. This means less outdoor maintenance but also less private yard space. It aligns with the home's overall theme of efficient, low-maintenance living.
5. Who would this property not suit?
It would likely not meet the needs of buyers requiring multiple large bedrooms, extensive living and storage space, or who desire a large, private yard for gardening or recreation. It is a compact home in a neighborhood of generally larger properties.