Property Overview: 21 Shearwater Bay, Waverley Heights, Winnipeg

Key Characteristics & Appeal

This home presents a compelling balance of space, value, and established character. Built in 1979, it is notably well-maintained for its age, ranking in the top 5% for its newness on its own street. With 1,276 sqft of living space, it offers a practical footprint that is very close to the average for both the immediate neighborhood and the wider city, making it a comfortably sized family home without being excessive.

Its primary appeal lies in its strong positioning within the highly localized context of Shearwater Bay. The property stands out on its street with an above-average lot size (4,812 sqft) and a property tax assessment value that ranks in the top 9%, suggesting it is perceived as a premium home in this specific enclave. However, when viewed against the broader Waverley Heights community, it appears as a more value-conscious option, with its assessment value and lot size below the area average. This creates a unique proposition: a home that feels like a standout on its block while offering a potentially more accessible entry point into the desirable wider neighborhood.

This property would suit practical buyers looking for a settled, established home in a mature area. It’s ideal for those who prioritize a sense of space and pride of ownership on their immediate street over having the largest lot in the district. It would also appeal to value-oriented purchasers who understand that a lower-than-area-average tax assessment can translate into long-term savings, provided the condition and updates meet their needs.

Frequently Asked Questions

1. What does the "top 9% assessment value on the street" ranking actually mean?
It indicates that for property tax purposes, this home is valued significantly higher than most of its direct neighbors. This often reflects recent updates, superior condition, or desirable lot features compared to others on Shearwater Bay.

2. If the lot is above average for the street but below average for Waverley Heights, what should I expect?
You can expect a very decent, private backyard for the immediate area, likely larger than many neighbors'. However, some homes in other parts of Waverley Heights may sit on more expansive, park-like lots. It's a trade-off that contributes to the home's value positioning.

3. The home was built in 1979. What major systems might need attention?
While the ranking suggests it's among the newest on the street, key components like the roof, windows, furnace, and electrical panel are at an age where they may be nearing the end of their service life or have recently been replaced. An inspection is crucial to determine their condition.

4. How can the assessment value be both high for the street and low for the community?
This highlights the micro-markets within neighborhoods. Shearwater Bay may consist of more modestly valued homes overall. This property is a leader on its street but is priced below the benchmark for the entire Waverley Heights area, which includes newer or larger luxury homes.

5. Does a lower-than-area-average tax assessment mean the taxes are low?
Not necessarily. It means the city's assessed value for this home is lower than the community average. Your actual tax bill is calculated by multiplying this assessed value by the annual tax rate. A lower assessment is generally beneficial, but the final bill depends on the municipal tax rate set each year.