Property Overview: 519 Waverley Street, Central River Heights

Key Characteristics & Buyer Profile

This is a classic, well-maintained two-storey home built in 1950, situated on a mature, established street in the desirable Central River Heights neighbourhood. Its key features include a renovated basement and a detached garage. With 1,350 sqft of living space, it offers a comfortable footprint that is very typical for the area. The lot size of 5,070 sqft is notably smaller than others on Waverley Street itself but is generally in line with neighbourhood and city-wide averages, suggesting a manageable yard with less maintenance.

The appeal lies in its location within a prime, central neighbourhood and its position as a solid, updated property that doesn’t require major immediate work. The home’s assessed value ranks above average city-wide, indicating perceived stability and desirability in the broader market. A thoughtful perspective for buyers is that while the lot is smaller than some on the block, this often translates to lower utility and upkeep costs, and the home’s living space is efficiently comparable to many city homes. It last sold in 2019 for $380k, a price point that was above average for the street at the time, hinting at sustained demand.

This property would best suit a buyer looking for a move-in ready home in a central, walkable neighbourhood without the burden of a massive lot. It’s ideal for small families, couples, or professionals who value location and character over expansive square footage or yard space.

Frequently Asked Questions

1. How does the lot size compare practically?
While the land is in the smaller 15% of lots on Waverley Street, it is near the neighbourhood and city average. This means a more manageable yard for gardening or entertaining, with potentially lower costs for landscaping and snow clearing than larger lots.

2. What does the "renovated basement" likely include?
The listing specifies a renovated basement, which typically means finished living space. For precise details on the quality, layout, and whether it includes a legal suite or additional bedrooms, a viewing or inquiry with the listing agent is necessary.

3. Is the assessed value a good indicator of the listing price?
Not directly. The assessed value ($43.90k) is for municipal tax purposes. The home last sold for $380k in 2019, which is a far more relevant benchmark. Market conditions and updates since 2019 will determine the current listing price.

4. How does the age of the home (1950) factor in?
Built in 1950, the home is older than most in Central River Heights. This often means charming character but also warrants a thorough inspection for the condition of major aging components like the roof, plumbing, and electrical systems, which may have been updated over time.

5. What are the implications of a detached garage?
A detached garage offers flexibility and can reduce noise transfer to the home. However, it requires going outdoors to access your vehicle, which can be a consideration during Winnipeg winters. The condition and size of the garage should be verified during a viewing.