Property Summary: 2 Lake Fall Place

Key Characteristics & Appeal

This 1,080 sqft bungalow, built in 1978, presents a practical and value-conscious opportunity in the Waverley Heights neighborhood. Its primary appeal lies in its solid positioning relative to its immediate surroundings. While the living area is average for the street, the property stands out with a newer build year compared to neighbors and a larger-than-average lot for Lake Fall Place at 3,057 sqft. This suggests a well-situated home on a desirable plot within its specific block.

The financial profile is distinctive. The home's assessed value is comfortably below the broader neighborhood and city averages, yet it aligns with the average for its own street. This creates a potential "value-entry" scenario into Waverley Heights, where you acquire a neighborhood address at a street-level price. It would suit a first-time buyer, a downsizer, or an investor seeking a manageable property with a relative lot-size advantage on its street. The appeal is for those who prioritize location and lot potential over sheer interior size, and who see value in a home that is newer than most on the block.

Frequently Asked Questions

1. Is this home a good value compared to the rest of the neighborhood?
The data suggests it is. While the assessed value is below the Waverley Heights average, the home's living area and build year are above average for the neighborhood. This indicates you may be getting more house and a newer construction for a lower assessed value.

2. The lot size is noted as "below average" for the neighborhood and city. Is that a concern?
Context is important. While the lot is smaller than the very large averages for Winnipeg and this specific neighborhood, it is actually larger than average for Lake Fall Place itself. This means on its own street, the property has a relative advantage in outdoor space.

3. What does the "newer build year" ranking mean for maintenance?
Being built in 1978 and ranked as newer than most on the street and in the area suggests that major components like the roof, windows, or foundation may have been updated later than in older neighboring homes. However, a 1978 home will still require due diligence on systems like plumbing, electrical, and HVAC, which are at an age where updates are common.

4. Who would this property not suit?
Buyers seeking a very large lot by Winnipeg standards, or those wanting a home with above-average interior square footage for the city, might find other options. The layout and feel of a 1,080 sqft bungalow will be cozy and efficient.

5. How should I interpret the different rankings (street, neighborhood, city)?
Focus on the street-level ranking first to understand the property's standing among its direct neighbors. The neighborhood and city rankings show how the street itself compares to wider areas. Here, you see a pattern: this home is competitive on its own street, which is a more modestly valued enclave within the broader, higher-valued Waverley Heights area.