Property Overview

This home at 1120 Markham Road in Winnipeg's Waverley Heights neighbourhood presents a practical and value-oriented opportunity. Its key characteristics create a specific profile that will resonate with certain buyers more than others.

Key Characteristics & Target Buyer

The property is defined by its modest scale and below-average tax assessment. With 989 sqft of living space and a 2,754 sqft lot, it is consistently smaller than averages for its street, neighbourhood, and the wider city. This is paired with a municipal tax assessment significantly lower than surrounding areas, suggesting a potentially lighter annual tax burden. A notable positive is the 1975 build year, which is newer than most homes on its specific street.

The appeal lies in efficiency and affordability. It suits a first-time homebuyer or an investor seeking a lower entry point into the Waverley Heights area. The smaller footprint means lower utility costs and less maintenance, which is ideal for a minimalist, downsizer, or someone who prioritizes location over sheer size. A thoughtful perspective is that a home with below-average assessments can sometimes allow for renovation and modernization that increases value without immediately triggering a proportional jump in property taxes. However, buyers should be prepared for compact living spaces and a yard that offers limited privacy or expansion potential compared to larger lots in the area.

Frequently Asked Questions

1. What does the tax assessment being "below average" actually mean for me?
It indicates the city's assessed value for tax purposes is lower than most comparable homes. This typically translates to a lower annual property tax bill, which is a recurring cost saving. It does not directly dictate the home's market sale price.

2. The house is smaller than average. How might that affect daily life?
The floor plan will likely be efficient and cozy. It's well-suited for 1-2 people but may feel cramped for a larger family, especially if working from home requires dedicated space. Storage and entertaining capacity will be more limited than in larger homes.

3. The lot is smaller than most in the neighbourhood. Are there any advantages to this?
Yes. A smaller lot requires less time and money for yard maintenance like mowing, landscaping, and snow clearing. This can be a significant benefit for those with busy schedules or who prefer low-maintenance living.

4. The build year is 1975. What should I consider with a home of this age?
While newer than many on its street, a 1975 home is nearly 50 years old. Key systems like the roof, windows, furnace, and electrical should be carefully inspected. This era of home may also contain materials like asbestos or original aluminum wiring, which due diligence can identify.

5. How should I interpret the various ranking percentages provided?
They show how this property compares to others in different geographic circles. For example, being in the "top 83%" for living space on its street means 83% of street homes are larger—so it's in the smaller 17%. It's crucial to read the metric (e.g., "larger is better") with the percentage to understand if a high rank is an advantage or not for that specific feature.