Property Overview: 158 Lake Grove Bay, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a compelling balance of space, location, and value. Its primary appeal lies in its generous, above-average lot size of nearly 9,000 sqft, which ranks within the top 11% on its street and top 8% in the wider Waverley Heights community. This offers significant outdoor potential for gardening, recreation, or future expansion, a notable advantage over many neighbouring properties.

The 1,090 sqft living space is slightly below the average for Lake Grove Bay but is very close to the averages for both the community and the entire city, indicating a comfortable, efficient layout for its era. Built in 1980, the home is newer than most in Winnipeg and notably newer than the average in its immediate neighbourhood, suggesting potentially fewer age-related concerns than older stock.

From a value perspective, the property’s tax assessment is above average for both Waverley Heights and Winnipeg, which often correlates with perceived value and desirability, though it sits close to the street average. This profile suits practical buyers who prioritize land size and a solid, established neighbourhood over a maximized interior footprint. It’s ideal for those seeking room to grow outdoors, who appreciate a home that is competitively positioned within the broader market, and who are comfortable with a property from the early 1980s that may benefit from personalized updates.

Section 2: Frequently Asked Questions

1. Is the living space considered small for the area?
While the living area is below the specific average for Lake Grove Bay street, it is very close to the averages for the larger Waverley Heights community and the city of Winnipeg as a whole. It represents a efficient use of space rather than an unusually small home.

2. What does the above-average tax assessment mean for me?
An assessment above the community and city averages typically indicates the municipal assessor views the property as having higher value than many others. This can be a positive sign of the property’s standing, but it directly influences your annual property tax bill, which will likely be higher than on a home with an average or below-average assessment.

3. The home was built in 1980. What should I consider?
Homes from this period often feature modern wiring standards and more efficient insulation than older builds, but key components like the roof, windows, and major mechanical systems (furnace, water heater) may be nearing or past their typical lifespans and should be carefully inspected.

4. How significant is the large lot size?
The lot size is a standout feature, ranking in the top 10% for the area. This provides rare extra space for privacy, landscaping, adding a deck or shed, and even has potential for future additions, subject to local zoning bylaws. It offers flexibility that smaller lots do not.

5. How does this home truly compare to others nearby?
The data shows a home with a trade-off: a slightly smaller interior footprint on a much larger, more valuable piece of land than is typical. Compared to immediate neighbours on the street, you get more yard but less house. Compared to the wider community and city, you get a newer home on a larger lot with an above-average assessment.