Property Summary: 98 Lake Grove Bay, Winnipeg
Section 1: Overview & Appeal
This home presents a compelling mix of value, potential, and location within the well-regarded Waverley Heights neighborhood. Its key characteristic is a balance of a modest, efficiently sized house (1,000 sqft) on a generously sized and above-average lot (nearly 7,000 sqft) for the city. While the living space is compact compared to immediate neighbors, this is offset by a land area that offers room for gardens, play, or expansion.
The appeal lies in its position as a solid, newer-built home on its street (built in 1981, which is newer than most nearby) with an assessed value that aligns with area norms. It suits practical buyers looking for a manageable footprint without sacrificing outdoor space—ideal for first-time homeowners, downsizers, or investors. The property is a candidate for those who see potential in the land itself or who prioritize a newer building envelope over sheer interior size, offering a foundation to customize without the premium of a fully renovated home.
Section 2: Frequently Asked Questions
1. Is the house too small compared to others on the street?
The living area is below the street average. This suggests a more efficient or compact layout, which can mean lower utility costs and less maintenance. The trade-off is the larger-than-average lot, which is a significant asset.
2. What does the "Elite" ranking for year built mean?
It means this home (1981) is one of the newest on its specific street. This can imply newer major systems (like wiring, plumbing, or insulation) compared to older area homes, potentially reducing immediate update costs.
3. How does the assessed value compare?
The assessed value is around average for the street and city, but above average for the wider Waverley Heights neighborhood. This indicates you are paying for the specific location on Lake Grove Bay and the lot size, which holds value in the area.
4. Is the large lot a good investment?
The lot size is a standout feature, ranking above average for both the neighborhood and city. This not only provides immediate outdoor space but also represents long-term value, as land is a finite resource and offers future potential.
5. Who would this property not suit?
Buyers seeking a move-in-ready home with ample, modern interior space equivalent to newer subdivisions may find the layout limiting. It’s best suited for those comfortable with a cozy interior or those with plans to renovate or extend to capitalize on the lot.