Property Summary: 612 Waverley Street

Key Characteristics & Appeal

This single-storey home in Central River Heights is defined by its generous, mature lot. At nearly 8,000 square feet, the property offers significantly more land than most homes in Winnipeg, placing it in the top tier for lot size both in the neighbourhood and city-wide. The house itself, built in 1954, is of a comfortable, average size for the area at approximately 1,400 square feet, and features a renovated basement and a detached garage.

The primary appeal lies in its location and land value. Situated on a quiet, established street in a highly sought-after neighbourhood, the property offers a rare combination of central convenience and expansive outdoor space. This isn't just a home; it's a canvas with potential. The large lot provides privacy, room for gardens, play areas, or future additions, making it a long-term investment in a premier location. It would suit a buyer who values space and location over a large existing footprint—perfect for someone looking to put down roots, perhaps a growing family wanting room to expand, or a purchaser who sees the underlying value in the land itself and is comfortable with a home that may require updates over time.

Frequently Asked Questions

1. Why is the assessed value relatively low compared to the sale price?
Assessed values for taxation purposes often lag behind current market values, especially in desirable, rapidly appreciating neighbourhoods. The last sale was in 2017, and market conditions have shifted significantly since then.

2. Is the house in move-in condition?
The listing notes a renovated basement, which is a positive update. However, as a home from the 1950s, the main living areas may retain original character. A thorough inspection is recommended to understand the condition of major systems like plumbing, electrical, and the roof.

3. What are the implications of such a large lot?
While offering great space and privacy, a lot of this size also means higher maintenance (like lawn care and landscaping) and potentially higher property taxes relative to smaller lots in the same area. It also presents a future opportunity, as zoning permitting, it could allow for significant landscaping projects or even an addition.

4. How does the detached garage affect usability?
A detached garage is common for homes of this era. It provides secure storage and parking but can be less convenient during Winnipeg winters compared to an attached garage. The walk between the house and garage is a practical consideration.

5. The home's living area is described as "around average." Will it feel spacious enough?
At 1,397 sq ft, the living space is typical for a 1.5-storey or bungalow of its time. The perceived space will depend heavily on the layout. The renovated basement, however, effectively doubles the usable living area, which is a key advantage not reflected in the main floor square footage alone.