Property Overview: 42 Lakeside Drive, Waverley Heights
Section 1: Key Characteristics & Appeal
This home presents a compelling value proposition within the established Waverley Heights neighborhood. Its key characteristic is balance: at 1,164 sqft, the living space is manageable and efficient, sitting comfortably around the neighborhood and city averages. The 6,608 sqft lot, however, is a significant asset, offering above-average outdoor space for the area and city-wide, providing room for gardens, play, or expansion.
The appeal lies in its position as a competitively priced entry into a desirable street. With an assessed value notably below the street average, it offers an opportunity to live on Lakeside Drive without the typical premium. The home, built in 1977, is newer than many in Winnipeg and is among the more recent builds on its own street, suggesting potentially fewer immediate concerns with aging infrastructure.
This property would suit first-time buyers or downsizers seeking a balanced home with a generous yard in a mature neighborhood. It’s for the practical buyer who values land size and location over sheer interior square footage, and who sees the below-street-average valuation as a smart entry point or a chance to add value through thoughtful updates.
Section 2: Frequently Asked Questions
1. Is the living area too small compared to other homes on the street?
The living area is below the street average. This is a key factor in its lower assessed value and may mean cozier interiors. However, it is aligned with broader neighborhood and city norms, making it a typically sized home for Winnipeg.
2. Why is the assessed value so much lower than the street average?
The primary driver is likely the smaller living area relative to other homes on Lakeside Drive. The assessed value is much more in line with neighborhood and city averages, indicating the street itself commands a premium that this particular home, due to its size, doesn't fully reflect.
3. What are the advantages of a 1977 build year?
Being newer than the city average and one of the more recent homes on the street can be advantageous. Construction standards and materials from this era may mean fewer issues common in older Winnipeg homes, like outdated wiring or plumbing, though a thorough inspection is still essential.
4. How does the lot size compare, and what does it offer?
The lot is a standout feature. While below the spacious street average, it is significantly larger than the typical Winnipeg lot and above the neighborhood average. This offers more private outdoor space than you’d find in many comparable areas.
5. Is this a good investment for future value?
Its current valuation presents a lower barrier to entry onto a street with a higher average value. This could provide a cushion for future appreciation, especially if improvements are made. The larger-than-average lot also represents a permanent asset that consistently adds to a property’s long-term worth.