Property Overview: 633 Waterloo Street, Winnipeg

Key Characteristics & Appeal

This two-storey home in Central River Heights is defined by its generous scale and established neighbourhood setting. Built in 1952, it sits on a large 6,144 sqft lot that ranks well above average for both the street and the area, offering significant outdoor space. The 1,850 sqft living area is also notably spacious compared to local norms. A key modern update is the renovated basement, adding functional living space, while the home retains classic features like a detached garage.

Its primary appeal lies in offering above-average roominess—both indoors and on the land—in a sought-after, mature neighbourhood. The recent sale price suggests it was positioned as a premium offering in the area. This property would best suit buyers looking for a character home with ample space for gardens, play, or expansion, and who value the walkable, central location of River Heights over a brand-new build. It’s a solid choice for those comfortable with the maintenance of a home of this era but appreciating that some renovation work on the basement has already been addressed.

Frequently Asked Questions

1. How does the lot size compare practically?
At over 6,100 sqft, the lot is substantially larger than the average for Central River Heights (~5,581 sqft). This translates to more private yard space, greater potential for landscaping, gardening, or additions, and typically more distance from neighbours.

2. What does the "renovated basement" likely include?
While specifics aren't listed, a renovated basement in a home of this age often means it has been finished into a livable space, such as a family room, office, or additional bedrooms, and likely includes updated flooring, walls, and lighting. It’s important to confirm the scope, permits, and moisture control measures.

3. Is the assessed value a good indicator of the market price?
Not directly. The assessed value ($510k) is for municipal tax purposes. The home sold for $630k, which is a more accurate reflection of its recent market value. The sale price was well above the neighbourhood average, indicating premium features or desirability.

4. What are the implications of a detached garage?
A detached garage offers flexibility—it could be used as a workshop or studio without affecting the main house. However, it means navigating the outdoors to access your vehicle, which can be a consideration during Winnipeg winters.

5. The home is older; what should I investigate?
While the basement is renovated, a 1952 home will have original core components. A thorough inspection should focus on the foundation, roof, wiring, plumbing, and insulation to understand what major upkeep or updates may be anticipated in the coming years.