120 Waterloo Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1917 home with 3,412 square feet of living space on a 12,002-square-foot lot. The property ranks among the top 1% citywide for both living area and assessed value ($1.87M). On its own street, it sits at #3 out of 322 homes by value—meaning the immediate neighbours are also high-value properties, not a single outlier surrounded by modest houses.
The lot size is notably generous even by local standards: it's in the top 4% citywide, and well above the street average of 5,833 square feet. That suggests room for gardens, additions, or simply privacy that tighter urban lots don't offer.
The appeal here is twofold. First, the sheer scale—both inside and out—is rare in Winnipeg. Most comparable homes citywide average 1,342 square feet, so this is nearly three times that. Second, the assessed value tells you the location has held and grown its value over time. The 1917 build means it's an older home, ranking near the bottom of its street for newness, but that also means it likely has character details and construction quality that newer builds lack.
This property suits buyers who value space, prestige location, and long-term asset stability over modern finishes. It would fit someone who wants a substantial family home or a property with room to renovate and personalize, without compromising on address. It's less suited to buyers who want a move-in-ready, low-maintenance newer build or who prioritize energy efficiency above all else.
Frequently Asked Questions
1. How does the age of the home affect its value and upkeep?
Being built in 1917, the home is older than 88% of properties citywide and the second-oldest on its street. This typically means higher maintenance demands—plumbing, electrical, and insulation may need updating. However, older homes in elite locations often carry a premium for their craftsmanship, character, and established landscaping. The assessed value suggests the market has priced in both the age and the location.
2. What does "ranked top 1%" mean for resale potential?
Citywide, this property ranks #172 out of 194,458 for assessed value. In practical terms, it places the home in a very small pool of comparable properties. Resale depends on finding buyers who want that scale and location—there are fewer of them, but they also face little competition from similar listings. It's a niche market, but a stable one.
3. How does the land area compare to other homes nearby?
The lot is 12,002 square feet—more than double the street average. Within the Wellington Crescent neighbourhood, it's still in the top 22%. That means you have significantly more outdoor space than most neighbours, which could be used for expansion, a pool, or simply keeping distance from adjacent properties.
4. Is the assessed value of $1.87M likely to reflect the actual market price?
Assessed value is a baseline used for property tax, not a guaranteed market price. In top-tier neighbourhoods, sales often exceed assessment—especially for unique properties. However, because this home is older and ranks low for year built, some buyers may discount for renovation costs. The final price will depend on condition and how much updating has already been done.
5. What type of inspection issues should a buyer expect?
Beyond standard checks for foundation, roof, and HVAC, a 1917 home may have knob-and-tube wiring, lead paint, or outdated plumbing. The large lot also means trees that could affect drainage or foundations. A specialist in older homes is recommended—general inspectors sometimes miss issues specific to early 20th-century construction methods.