Property Overview: 1178 Markham Road, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 1178 Markham Road in Waverley Heights is a practical property that presents a clear value proposition. Its key characteristic is its efficient size: at 923 sqft, the living space is notably compact, ranking in the top 5% smallest on its own street. This translates to lower utility costs and minimal upkeep. The 1974 build is typical for the immediate area but is actually slightly older than many homes in the broader Waverley Heights community.

The appeal lies in its balanced fundamentals and lot potential. With an assessed value slightly above the street average and in line with the city average, it is positioned as an accessible entry point. The 5,499 sqft lot is larger than most on Markham Road, offering valuable outdoor space and future potential that the current home’s footprint does not fully utilize. This property would best suit first-time buyers, downsizers, or investors seeking a manageable, land-value-focused asset in a stable neighborhood. It’s for those who prioritize a solid location and lot size over immediate square footage, viewing the home itself as a functional foundation.

Section 2: Frequently Asked Questions

1. Is the living space too small?
At 923 sqft, it is certainly compact, significantly below area averages. This is ideal for minimalists or small households but requires thoughtful space planning. The trade-off is often lower heating, cooling, and maintenance costs.

2. How does the property tax assessment compare?
The assessment is very close to the citywide average for comparable homes and is actually slightly above the average for Markham Road itself. This suggests the property is valued in line with the market, not as an undervalued outlier.

3. What does the 1974 build year mean for maintenance?
Built in 1974, the home is of an age where major components like the roof, windows, and HVAC system may be at or beyond their typical lifespan. A thorough inspection is crucial, but this era of construction is generally known for sturdy framing and simpler systems.

4. Is the lot size a major advantage?
Yes, particularly on its own street. The lot is larger than the average parcel on Markham Road, offering more private outdoor space than neighbors and potential for expansion or landscaping. Compared to the wider community and city, the lot size is average.

5. How is “ranking” determined in the statistics?
Rankings show how this property compares to similar ones in a specific geographic area. For example, being in the “top 95%” for living area on its street means 95% of comparable homes on Markham Road are larger—it is one of the smallest. A ranking near 50% would indicate it is perfectly average for that metric.