Property score
54.7
Fair
Overall 54.7 · Smaller than most nearby homes
800 sqft (bottom 3%) · Built in 1977 (1 yr older than avg)
Located in a above-average income area with median household income of ~83k
Transit 88.0 · 2-min walk to transit with 3 nearby routes · Within 500m: 7 dining spots, 3 healthcare facilitys, 1 shop, and 1 park nearby
Living Area
Below average
35% smaller than neighborhood avg.
Year Built
Near average
1 yrs older than neighborhood avg.
Mother tongue
English · 56%Punjabi · 9%
Past 10 years Waverley Heights sales snapshot (~80% of all data)
627
415k
$333/sqft
1978
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54.7 is composed by the two sections below.
Property Score
Community Score
Waverley Heights
How to read: Share of sales in each ~$50k price band for “waverley heights” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110978
$83K
Median household income
$79K
Average household income
12%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.2
P90 / P10 ratio
22%
Single-person households
26%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
118 Lake Village Road — 14 amenities found within 500 m, across 6 categories, including 7 dining (nearest 311 m), 3 healthcare (nearest 308 m), 1 shopping (nearest 466 m).
Waverley Heights · WPS public data · 2026
Annual incidents
14
2026
vs. city avg
-53%
relative to avg
Year-over-year
▼ -92%
vs. prior year
Primary type
Property
50%
118 Lake Village Road: We are not showing a transaction history based solely on public data; that does not mean no sale ever occurred. You can still request details by email in the “Data notes” section below—we will look it up manually and reply with the most accurate information available.
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Overview: 118 Lake Village Road, Waverley Heights
Key Characteristics & Buyer Appeal
This 1977-built home in Waverley Heights presents a clear value-oriented proposition within its market. Its primary appeal lies in its accessible price point, which is notably below both neighborhood and city averages for comparable properties. With an assessed value of $297k, it stands well below the local area average of $398k, offering a financially manageable entry into the neighborhood.
The home is modest in scale, with 800 sqft of living space on a 3,551 sqft lot. This places it below average in size for the street, neighborhood, and city. This characteristic defines its ideal buyer: a first-time homebuyer, an investor, or a downsizer seeking a lower-maintenance property without the premium price tag of larger homes in the area. Its age is actually a relative strength on its specific street, ranking as newer than many immediate neighbors.
A thoughtful perspective is that this property represents efficiency over expanse. The below-average costs for taxes and upkeep, coupled with its manageable lot size, translate to a lower carrying cost burden. It suits someone whose priority is securing a home in a established neighborhood like Waverley Heights, while accepting that the investment is in the land and location more than in the size or luxury of the current structure. It’s a practical choice for building equity.
Frequently Asked Questions
1. Is this a "fixer-upper" or a move-in ready home?
The listing details do not specify the interior condition. Given its below-average assessed value and smaller size, prospective buyers should be prepared to evaluate the state of major systems (roof, furnace, etc.) common to a home from the 1970s and budget for potential updates.
2. Why is the assessed value so much lower than the neighborhood average?
The assessed value reflects the property's specific attributes—namely, its smaller living area and lot size compared to area averages. It is assessed in line with similar, smaller-scale homes on the same street, not with the larger, potentially renovated homes that pull the neighborhood average up.
3. What are the advantages of a smaller lot?
A 3,551 sqft lot requires less time and money for maintenance like lawn care and landscaping than the larger lots common in the area. This can be a significant benefit for those seeking a lower-maintenance lifestyle or who prefer to spend less on upkeep.
4. How does the age of the home affect things?
Built in 1977, the home is of an era where certain materials (like aluminum wiring) or design standards were common. A thorough home inspection is crucial. On a positive note, the data shows it is actually a newer-built home on its specific street.
5. Who would this property NOT suit well?
It would likely not suit a growing family needing significant living space or bedrooms, or a buyer seeking a large yard for recreation or gardening. Those looking for a home at or above the neighborhood's average size and value should consider other listings.
