Property Summary: 237 Gull Lake Road, Waverley Heights, Winnipeg

Key Characteristics & Appeal

This home presents a compelling blend of space, value, and a well-established setting. Its primary appeal lies in the generous 6,751 sqft lot, which ranks in the top 4% on its street, offering significant outdoor space that is increasingly rare. Built in 1992, the property is notably newer than most in Waverley Heights (top 3% for the neighborhood), suggesting modern construction standards and potentially lower immediate maintenance needs than older peers.

While the living area (1,078 sqft) is consistent with local averages, the assessed value of $448k sits comfortably above averages at every level—street, neighborhood, and city. This indicates a perceived premium, likely driven by the desirable lot size and newer build year. The data paints a picture of a property that is a standout on its own street, particularly for land and modernity.

This home would suit a buyer looking for a manageable-sized house on a larger, private lot in a mature neighborhood. It’s ideal for those who prioritize outdoor space for gardening, play, or future expansion over a maximized interior square footage. It also appeals to buyers seeking a home that is newer than its surroundings, potentially offering more contemporary infrastructure without sacrificing the character of an established area.

Frequently Asked Questions

1. Is the assessed value a reliable indicator of the listing or market price?
The assessed value is for municipal tax purposes and is one data point. That it is above local averages suggests the property has attributes the city deems valuable, but the final market price will be determined by current buyer demand and comparable recent sales.

2. The living area is described as "around average." Does that mean the house is small?
Not at all. At 1,078 sqft, it is very much in line with the typical home on Gull Lake Road and in Waverley Heights. The focus here is on the efficient use of space on a much larger-than-average lot.

3. What are the advantages of a home built in 1992 in this neighborhood?
A 1992 build typically means modern wiring, plumbing, insulation standards, and possibly a more open floor plan than much older homes. In a neighborhood where many homes are from the 1970s or earlier, this can mean fewer major system updates and greater energy efficiency.

4. The lot is a top feature. What are the possibilities and responsibilities that come with it?
The large lot offers room for additions like a deck, shed, or garden, and provides privacy. Buyers should consider the ongoing maintenance (lawn care, landscaping) and ensure any future plans comply with local zoning bylaws.

5. How does the property's "above average" value affect property taxes?
Generally, a higher assessed value relative to area averages will result in a higher property tax bill. It’s advisable to research the actual annual tax amount to understand the full carrying cost.