Property Summary: 56 Lakeside Drive, Waverley Heights
Key Characteristics & Appeal
This 1,240 sqft bungalow, built in 1977, presents a compelling opportunity in the Waverley Heights neighborhood. Its primary appeal lies in its balanced positioning within the market. While the home’s living area and assessed value are notably below the average for its own desirable street (Lakeside Drive), it sits comfortably at or above average when compared to the wider neighborhood and city. This suggests you are acquiring a well-located property at a more accessible entry point than many of its immediate neighbors.
The 6,679 sqft lot is a significant asset, ranking above average for both the neighborhood and Winnipeg overall, offering ample outdoor space that is increasingly rare. The home suits two main types of buyers: first, those seeking a solid entry into a mature, established street with room to grow or customize a property over time. Second, it appeals to value-conscious buyers who prioritize a generous lot size and a stable neighborhood over having the largest house on the block, recognizing that the street itself carries inherent value.
Frequently Asked Questions
Q: The assessed value is much lower than the street average. Does this indicate a problem?
A: Not necessarily. It primarily reflects that this home is among the more modestly sized and valued properties on a street that includes larger, higher-value homes. It’s a key factor in the property’s relative affordability within this location.
Q: How does the 1977 build year affect the home?
A: Being newer than most on its street is a positive for core systems, but a home of this age will likely have components (like roof, windows, HVAC) that are at or beyond their typical lifespan. A thorough inspection is advised to understand update needs, which also presents customization opportunities.
Q: The living area is below the street average. Will the house feel small?
A: At 1,240 sqft, it is a practical size for many households. The perception of space will depend heavily on the floorplan’s efficiency. The generous lot also significantly expands the usable living area outdoors during warmer months.
Q: Is the large lot a maintenance burden or a benefit?
A: This depends on the buyer’s vision. It requires more upkeep than a small yard but offers unparalleled potential for gardening, recreation, expansions like a deck or shed, and simply provides a greater sense of privacy and space.
Q: What does the ranking data actually tell me about the neighborhood?
A: It confirms Waverley Heights is an established, consistent area. The fact that this property’s metrics are generally stronger when compared to the city and neighborhood than to its own street indicates Lakeside Drive is a high-caliber block within the community, making this a potential value proposition.