Property Overview: 212 Waverley Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This is a substantial, century-old home in the desirable North River Heights neighborhood, distinguished by its generous scale and lot size. Its primary appeal lies in offering significantly more space—both indoors and out—than most homes in Winnipeg. With 2,792 sqft of living area, it ranks in the top 3% for size within its neighborhood and top 2% city-wide. The nearly 7,800 sqft lot is even more exceptional, placing in the top 1% for North River Heights, providing rare potential for gardens, expansion, or simply ample privacy.

The home’s assessed value of $645k reflects its premium positioning, ranking above average across all comparison levels. A key, less obvious perspective is that while the 1925 build date means it is older than most area homes, this often correlates with established, mature landscaping and architectural character not found in newer builds. The property last sold in mid-2016 for an estimated $550k-$600k, indicating a history of value appreciation.

This property would best suit buyers who prioritize interior and exterior space over a modern build date. It’s ideal for a growing family seeking established neighborhood roots, or for someone who values a large private yard. The home appeals to those comfortable with the character and potential maintenance considerations of a heritage-era property, viewing them as a worthwhile trade-off for land size and interior volume that are increasingly difficult to find.

Frequently Asked Questions

1. What does the "Elite" or "Top X%" ranking mean for the living area and lot size?
It means this home is larger than the vast majority of comparable properties. For example, its lot size is bigger than 99% of lots in North River Heights, and its living area is larger than 97% of homes in the neighborhood.

2. The home was built in 1925. Should I be concerned about its age?
The age indicates a need for a thorough inspection to assess the condition of major systems like wiring, plumbing, and the foundation. However, many buyers seek homes from this era for their solid construction, architectural details, and the established, mature feel of the property and its surroundings.

3. How does the $645k assessed value relate to the likely selling price?
Assessed value is used for calculating property taxes and is not a direct market appraisal. However, it is a useful benchmark. Given that this assessment ranks consistently above average, it signals the municipality recognizes the property's premium attributes, particularly its size. The final sale price will be determined by current market conditions.

4. The lot is very large. What are the potential benefits or drawbacks?
The primary benefit is unparalleled space for recreation, gardening, or future additions like a garage or suite (subject to zoning). A less obvious consideration is that larger lots in mature neighborhoods can mean higher maintenance (lawn care, landscaping) but also offer greater long-term value retention and redevelopment potential.

5. Where can I find the exact historical sale price instead of the $50k range shown?
The site’s data is compiled from public records, not the MLS. To obtain the exact sale price from the July 2016 transaction, you can request a manual lookup by email through the provided link on the property page. They provide the exact figures directly without using your email for marketing.