68.1
Good
Property score
68.1
Good
Overall 68.1
Smaller but newer than most nearby homes
1,114 sqft (bottom 30%)
Built in 1953
Located in a high-income area
with median household income of ~95k
Transit 80.0
4-min walk to transit with 3 nearby routes
Within 500m: 3 parks, and 1 place of worship nearby
Sold for $250,000 over asking
Winnipeg Real Estate Sales Summary & Market Analysis May 11–17, 2026
Living Area
Below average
17% smaller than neighborhood avg.
Year Built
Above average
0 yrs newer than neighborhood avg.
Mother tongue
English · 80%Tagalog · 2%
Past 10 years Central River Heights sales snapshot (~80% of all data)
426
580k
$326/sqft
1953
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68.1 is composed by the two sections below.
Property Score
Community Score
Central River Heights
How to read: Share of sales in each ~$50k price band for “central river heights” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110425
$95K
Median household income
$112K
Average household income
3%
Low income (LIM-AT)
0.2
Income inequality (Gini)
2.9
P90 / P10 ratio
32%
Single-person households
21%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
538 Waverley Street — 4 amenities found within 500 m, across 2 categories, including 3 parks (nearest 294 m).
Central River Heights · WPS public data · 2026
Annual incidents
1
2026
vs. city avg
-97%
relative to avg
Year-over-year
▼ -99%
vs. prior year
Primary type
Other
100%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 43% | Top 39% | Top 28% |
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Bottom 38% | Bottom 48% | Top 33% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview
This one-storey home at 538 Waverley Street in Central River Heights is a property defined by its land and location more than its living space. Built in 1953, the house itself is a modest 1,114 sqft but sits on a generous 6,497 sqft lot, which is notably larger than most in both the neighbourhood and city. A key feature is the renovated basement, adding functional space, and the property includes a detached garage. Its most recent sale was in December 2024 for $42,500.
Key Characteristics & Appeal
The primary appeal of this property lies in its land potential within a highly desirable, established neighbourhood. The lot size is well above average for Central River Heights, offering rare space for expansion, gardening, or outdoor living. The renovated basement adds immediate usable square footage, making the home more functional than the main floor area alone suggests. This combination suits specific buyers: those looking for a solid foundation to customize or expand (a "foot-in-the-door" for the area), investors or builders attracted to the redevelopment potential of the large lot, or downsizers seeking a manageable single-level home with a low-maintenance footprint but a generous private yard. A less obvious perspective is that the significant difference between the 2024 sale price and the previous 2019 sale of $400k highlights a unique opportunity, likely as a vacant lot or teardown, making it a strategic purchase rather than a traditional move-in-ready home.
Frequently Asked Questions
1. Why is there such a large difference between the 2024 and 2019 sale prices?
The dramatic price change typically indicates a fundamental change in the property, such as the previous home being demolished or severely damaged, making the 2024 sale effectively for the land value and any remaining structures.
2. Is the house livable in its current state?
While the basement is noted as renovated, the very low sale price suggests the main house may be minimal, in need of significant repair, or not intended for immediate occupancy. Due diligence and a professional inspection are essential.
3. What are the possibilities for the large lot?
The lot size presents options such as building a new, larger home, adding a significant extension to the existing structure, or potentially subdividing the lot, subject to City of Winnipeg zoning and approval.
4. How does the assessed value relate to the sale price?
The 2024 assessed value ($45,800) is close to the sale price ($42,500), indicating the city’s assessment aligns with its current value as a land play. This differs from the previous assessment, which reflected the former improved property.
5. What makes the Central River Heights location desirable?
The neighbourhood is consistently sought-after for its mature tree-lined streets, proximity to parks, the Assiniboine River, and amenities like Corydon Avenue, offering a blend of quiet residential charm and urban convenience.
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