Property Summary: 112 Lake Village Road, Winnipeg

Key Characteristics & Appeal

This 920 sqft bungalow at 112 Lake Village Road presents a practical and competitively positioned home in the Waverley Heights neighborhood. Built in 1977, it is notably newer than many city-wide comparables. Its primary appeal lies in its efficient scale and value proposition. While the living area and lot size (3,738 sqft) are below the broader neighborhood and city averages, they are much more aligned with the specific character of Lake Village Road itself, where homes are generally more compact. This creates an interesting dynamic: you are purchasing in a well-regarded area, but at a scale and price point that reflects a more modest, manageable property.

The assessed value of $307k sits around the average for its immediate street and city-wide, but is notably below the average for Waverley Heights as a whole. This suggests an opportunity to access the neighborhood at a lower entry point. The home would suit first-time buyers seeking a foothold in a established area, downsizers looking to right-size without leaving the community, or pragmatic investors seeking a property with fundamentals that align closely with its immediate surroundings rather than grander area averages.

Frequently Asked Questions

Q: How does this home’s size compare to others nearby?
A: It’s important to distinguish between its street and the wider neighborhood. At 920 sqft, it’s very close to the average for Lake Village Road itself (~936 sqft), but smaller than the typical Waverley Heights home (~1,239 sqft). This indicates the street has a consistent, more compact character.

Q: Is the assessed value a good indicator of its market price?
A: The $307k assessment is a municipal valuation for tax purposes, not a market appraisal. However, its position—average for the street but below the neighborhood average—highlights its relative value within Waverley Heights.

Q: What does the year built tell us?
A: Built in 1977, it is newer than the city-wide average for comparable homes (1966) and is among the newer homes on its own street. This can suggest potentially fewer issues with outdated materials or systems common in older builds.

Q: Is the lot size a disadvantage?
A: The 3,738 sqft lot is smaller than many in the city and neighborhood, but is again typical for Lake Village Road. It offers lower maintenance than a larger lot, which can be a benefit for many buyers.

Q: How should we interpret these rankings and comparisons?
A: They provide context. The data shows this property is not an outlier; it fits comfortably within the profile of its immediate street. This can mean predictable property taxes and a community of similar homes, but also less space than you might find elsewhere in the area.