80 Waterloo Street – Property Summary

1. Key Characteristics & Buyer Profile

This property stands out for its sheer scale and land value. The home sits on a 11,998 sqft lot—nearly double the citywide average and more than twice the typical lot on its own street. The living area is 3,248 sqft, placing it in the top 5% on Waterloo Street and the top 1% citywide. The assessed value of $1.3M reflects this rarity: it ranks in the top 3% on its street and top 1% across Winnipeg.

Built in 1924, the house is older than most comparable homes on the street and citywide. That’s not necessarily a drawback—it signals a well-established property in a mature neighbourhood, likely with character features and a location that has held its value over time. The lot is the real draw here: 12,000 sqft in a central Winnipeg location is uncommon, and the ranking data suggests it outperforms nearly all nearby properties in terms of space and assessed value.

Who this suits: Buyers looking for a large, older home with serious land—investors or renovators who see potential in a legacy property, as well as families who value space, privacy, and a prestigious address over a move-in-ready modern interior. If you're after a new-build or something turnkey, this likely isn't it. But if you want a property that stands out statistically in every metric except age, and you're comfortable with the quirks of a 100-year-old house, this is a rare find.

2. Frequently Asked Questions

1. Is the property in good condition for its age?
The data doesn't speak to condition—only to ranking. A 1924 home may have original charm, but it's wise to budget for updates to major systems (plumbing, electrical, roofing). Given the high assessed value, it's likely been maintained, but a thorough inspection is essential.

2. How does the land value compare to other homes in the area?
The lot is nearly 12,000 sqft—well above the Wellington Crescent average of 9,488 sqft and more than double the street average of 5,833 sqft. This puts it in the top 4% citywide for land area. For a central neighbourhood, that's a significant advantage.

3. What does the "below average" year built ranking mean practically?
It means most comparable homes are newer—about 22 years newer on average. That doesn't make this a bad buy, but you should expect differences in layout, insulation, and building standards. Some buyers see older construction as more solid; others see it as a liability. Know your tolerance for maintenance.

4. How was the assessed value determined, and is it accurate?
Assessed value is based on municipal evaluation, which considers size, location, and comparable sales. At $1.3M, this home ranks in the top 1% citywide, which aligns with its large lot and living area. It may or may not match current market value—check recent sales on Waterloo Street for a clearer picture.

5. Is this property suitable for redevelopment or subdivision?
That depends on zoning, which isn't included here. Given the lot size (11,998 sqft), it may offer potential for a secondary suite, severance, or major renovation—but you'll need to consult the city's planning department. The age and character of the house could also affect what's allowed.