Property Overview
This home at 6 Lake Island Crescent in Waverley Heights presents a practical opportunity with a distinct character. Built in 1978, its 1,040 sqft living space and 5,446 sqft lot are moderately sized, offering a manageable footprint without feeling cramped. The appeal here is nuanced: while the living space is below the average for its immediate street and neighborhood, the property’s tax assessment value is notably lower than street comparables, suggesting a potentially favorable tax position relative to nearby homes. Its 1978 build year is among the newest on its street, which could imply newer core components compared to neighbors.
This property would suit first-time buyers or downsizers looking for a solid, no-frills home in a stable area. It’s for those who prioritize value and manageability over sheer size, and who see potential in a home that is well-situated within the broader market but may offer relative affordability on its specific block. It’s a pragmatic choice rather than a luxury one.
Frequently Asked Questions
1. Is the living space considered small for the area?
Yes, at 1,040 sqft, it is below the average living area for both Lake Island Crescent (1,236 sqft) and the wider Waverley Heights community (1,239 sqft). This makes it a more compact option on the street.
2. What does the tax assessment ranking indicate?
The tax assessment of $396,000 ranks very low (22nd out of 23) on Lake Island Crescent, where the average is $436,000. This suggests the city assesses this property at a lower value than most on its street, which can be a positive for annual property tax bills, though it may also reflect the home’s smaller size or other valuation factors.
3. The build year is 1978. Is that an advantage?
On this particular street, yes. It ranks 1st out of 23 homes, meaning it is the newest or among the very newest houses on Lake Island Crescent. For the neighborhood and city, it’s close to the average. This can mean major systems like plumbing, electrical, or the roof may be from a more modern era than older neighboring homes.
4. How does the lot size compare?
The 5,446 sqft lot is below the street average but close to the neighborhood average. It provides a decent outdoor space that is manageable for maintenance, ranking in the middle third when compared to the entire city.
5. How should I interpret these rankings?
The rankings show how this property stacks up against comparable homes in three expanding circles: its street, its neighborhood (Waverley Heights), and all of Winnipeg. It excels in being newer than its direct neighbors and having a lower tax assessment on its street. Its primary trade-off is offering less interior space than most homes on the same block.