Property Overview: 222 Waterloo Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home presents a compelling blend of established character and above-average space in a desirable neighbourhood. Built in 1926, it is a century-old property, which suggests classic architectural charm but also places it among the older homes on its street and in the wider area. Its primary appeal lies in its generous 1,818 sqft of living area, which ranks within the top 25% for both the immediate street and the North River Heights area, offering more interior space than many comparable properties.

The assessed value of $548k is notably above the Winnipeg citywide average, positioning it in the top 13% city-wide, which reflects the combined desirability of the location and the home's size. The lot size of 4,821 sqft is fairly typical for North River Heights but is slightly smaller than the average lot on Waterloo Street itself.

This property would best suit a buyer who values the established, tree-lined feel of North River Heights and prefers the character of a historic home, balanced with the practical advantage of ample living space. It appeals to those who see value in a home that stands above city and neighbourhood averages for size and assessed worth, and who are prepared for the considerations that come with a century-old structure.

Frequently Asked Questions

1. How does the age of the home affect its value and potential?
While older than most in the area, the home's above-average assessed value suggests its size, location, and condition offset its age. Buyers should factor in the potential for character features alongside the possibility of age-related maintenance or updates.

2. The lot is noted as smaller than others on the street. How significant is this?
The lot is about 1,000 sqft smaller than the street average but is very close to the average for North River Heights. This likely means a manageable yard with less upkeep, but may offer less privacy or expansion potential than some immediate neighbours.

3. What does the sold price data from March 2023 indicate?
The previous sale in the $500k-$550k range aligns closely with the current $548k assessment, suggesting a stable market valuation over the past two years in this bracket.

4. The living area is a key strength. What might that imply about the layout?
Homes of this era with above-average square footage often feature distinct, formal rooms like separate living and dining areas, potentially with more enclosed spaces compared to modern open-concept designs.

5. How does this property fit within the context of Waterloo Street?
It sits on a street where homes generally have larger lots but slightly smaller living areas. This property inverts that, offering more interior space on a somewhat more compact parcel, providing a different balance of assets.