Property Summary: 214 Lake Village Road

Section 1: Key Characteristics & Appeal

This home presents a compelling blend of above-average space and value within its immediate setting. At 1,080 sqft, it offers more living area than most homes on Lake Village Road, ranking in the top 17% for the street. Built in 1978, it is notably newer than its direct neighbors. The assessed value sits comfortably above the street average, suggesting a solid perceived worth in its micro-market.

The primary appeal lies in its strong positioning on a street of similar, often slightly older and smaller, homes. It offers a sense of space and relative modernity within a familiar streetscape. However, the broader context of Waverley Heights shows the lot size is more modest compared to the neighborhood average, which may appeal to those seeking lower-maintenance outdoor space.

This property would suit pragmatic buyers looking for a well-sized home on a established street without paying the premium for a larger neighborhood lot. It’s ideal for someone who values being above-average on their own block over having the largest property in the wider area. First-time buyers or downsizers seeking a manageable footprint with good interior space will find it particularly fitting.

Section 2: Frequently Asked Questions

1. Is the living space adequate for a growing family?
At 1,080 sqft, the living area is above the average for this specific street and is comparable to the wider neighborhood average. It provides a practical amount of space for a small to medium-sized family, especially given the efficient use of space typical of its era.

2. How does the lot size impact the property?
The lot is 4,198 sqft, which is larger than average for Lake Village Road but smaller than the typical lot in Waverley Heights. This translates to less yard maintenance than many area homes, but also potentially less private outdoor space. It’s a balanced option for those who want a yard without the upkeep of a half-acre lot.

3. What does the assessed value tell us?
The assessed value of $316k is above the street average but below the neighborhood average. This often indicates a home that is well-regarded on its own block but may not have some of the features (like a very large lot) that command higher prices in the broader area. It can represent a value opportunity within a desirable neighborhood.

4. The home was built in 1978. What should I consider?
Being built in 1978 makes it one of the newest homes on its street. This is a positive, but it also places the home in an age range where key components like the roof, windows, and major mechanical systems (furnace, electrical) may be due for updates or have been recently replaced. An inspection is crucial to determine the state of these elements.

5. How does this property compare to the wider Winnipeg market?
City-wide, this home is around average for living area and assessed value. Its strength is not in being exceptional across the entire city, but in offering a very competitive package within its specific, established street and neighborhood—a classic case of a "big fish in a smaller pond."