Property Overview: 61 Lakeland Place, Waverley Heights
Key Characteristics & Appeal
This home presents a compelling blend of space, established value, and a premium neighbourhood setting. Its 1,760 sqft living area is comfortably above average for both Winnipeg and the sought-after Waverley Heights area, ranking in the top 9% locally. The true standout feature is its assessed value of $577k, which ranks #1 on its street and in the elite top 2% of the neighbourhood, signalling a property that has significantly outpaced local averages.
The appeal lies in its position as a substantial, well-regarded home on a mature street. While the lot size is slightly smaller than others on Lakeland Place, it remains larger than most in the city and neighbourhood, offering good outdoor space without excessive maintenance. Built in 1974, it is a classic example of the area's housing stock, suggesting proven construction and potential for updates tailored to a new owner's taste.
This property would ideally suit buyers looking for a move-in ready home in a prestigious area, who value space and established equity over a new build. It’s for those who understand that a higher assessment on a mature street often reflects desirability, quality, and scarcity, not just square footage. It appeals to a practical buyer who sees the value in a home that already holds a leading position in its immediate market.
Frequently Asked Questions
Q: The assessed value seems high for the street. Does this mean the taxes are disproportionately high?
A: While the assessed value is the highest on Lakeland Place, it is consistent with its elite standing in the wider Waverley Heights neighbourhood (top 2%). Property taxes are based on this assessment, so they will reflect this premium position, but it is aligned with the home's market context.
Q: How does the lot size impact this property?
A: At over 8,400 sqft, the lot is still very generous, placing it above average for both the neighbourhood and city. While it's not the largest on its specific street, this often translates to a manageable yard with less upkeep, while still providing ample private space.
Q: The home was built in 1974. Should I be concerned about major repairs?
A: The year built is typical for the street. Homes of this era are known for solid construction, but key systems like the roof, windows, furnace, and electrical may be nearing or have undergone updates. A thorough inspection is always recommended to determine the current condition and any upcoming capital costs.
Q: The living area ranks well, but what does the "street level" ranking tell me?
A: Being around the street average for size but #1 in value is an interesting detail. It suggests that the home's worth is driven by more than just square footage—factors like layout, finishes, updates, or lot appeal likely contribute significantly to its top valuation.
Q: Is this considered a good long-term investment for the area?
A: Its current rankings indicate it is already a high-performer in Waverley Heights, a consistently desirable neighbourhood. Investing here is less about explosive growth and more about stability and preserving value in one of the city's established top-tier areas.