Property score
53.1
Fair
Overall 53.1 · Smaller than most nearby homes
800 sqft (bottom 3%) · Built in 1977 (1 yr older than avg)
Located in a above-average income area with median household income of ~83k
Transit 80.0 · 2-min walk to transit with 3 nearby routes · Within 500m: 1 school, and 1 park nearby
Living Area
Below average
35% smaller than neighborhood avg.
Year Built
Near average
1 yrs older than neighborhood avg.
Mother tongue
English · 56%Punjabi · 9%
Past 10 years Waverley Heights sales snapshot (~80% of all data)
627
415k
$333/sqft
1978
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53.1 is composed by the two sections below.
Property Score
Community Score
Waverley Heights
How to read: Share of sales in each ~$50k price band for “waverley heights” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.
Sales-to-New-Listings
1,196
sold
1,852
new listings
Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba
Sold Above Asking
Majority sold above asking
68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026
With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.
Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110978
$83K
Median household income
$79K
Average household income
12%
Low income (LIM-AT)
0.2
Income inequality (Gini)
3.2
P90 / P10 ratio
22%
Single-person households
26%
Families with children
Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.
Rank by land area, larger = better rank
Rank by year, newer = better rank
Rank by living area, larger = better rank
Rank by assessed value, higher = better rank
Bar: fill length ≈ share of peers you outperform. Fill color reflects tier (red / blue / amber / gray). “Avg” is a rough median benchmark for comparable homes in that scope.
To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.
Nearby stops, routes & transit score
Dining, education, healthcare, shopping & more
254 Lake Village Road — 2 amenities found within 500 m, across 2 categories, including 1 education (nearest 232 m), 1 parks (nearest 246 m).
Waverley Heights · WPS public data · 2026
Annual incidents
14
2026
vs. city avg
-53%
relative to avg
Year-over-year
▼ -92%
vs. prior year
Primary type
Property
50%
Same street
Same area
City-wide
| Metric | Same street | Same area | City-wide |
|---|---|---|---|
Sold price | Top 45% | Bottom 27% | Bottom 39% |
Request exact sold prices and history by email
Address · Year Built · Living Area
Address · Distance
Address · Tax-Assessed Value
Property Summary: 254 Lake Village Road, Winnipeg
Section 1: Key Characteristics & Appeal
This 800 sqft home, built in 1977, presents a specific and compelling value proposition within the desirable Waverley Heights neighborhood. Its key appeal lies in its position as a more accessible entry point into a well-regarded area. While the living space and lot size (2,999 sqft) are notably below averages for the street, neighborhood, and city, this is directly reflected in its assessed value of $300,000, which is also below those same benchmarks. This creates a unique dynamic: you are purchasing a home that ranks in the lower percentiles for physical attributes but is priced accordingly, often in a higher percentile for value within its immediate area.
The property would suit practical, value-conscious buyers. It's ideal for first-time homeowners seeking to establish themselves in a strong community without the premium price tag of a larger home, or for downsizers looking to maintain a neighborhood connection with less space to maintain. A thoughtful perspective is that this home offers the benefits of Waverley Heights—like community amenities and perceived stability—while demanding a lower ongoing financial commitment in both mortgage and property taxes, freeing up budget for other priorities. It’s a home for those who prioritize location and financial efficiency over sheer square footage.
Section 2: Frequently Asked Questions
1. Is the below-average living area a major concern?
It depends on your needs. At 800 sqft, the home is compact and efficient. It will suit individuals, couples, or small families who value low-maintenance living. The trade-off for the smaller space is gaining entry into a sought-after neighborhood at a relatively lower price point.
2. Why is the assessed value below average if it's in Waverley Heights?
The assessed value closely correlates with the home's physical characteristics—specifically its smaller size and lot. In high-demand areas, smaller, older homes often have lower assessments, which can mean relatively lower property taxes compared to neighboring larger homes, even while enjoying the same location.
3. The year built (1977) ranks very high on its street. What does this mean?
This indicates the home is actually one of the newer homes on Lake Village Road, where the average build year is also 1977. This suggests the street is an established, mature area, and this property is not a dated outlier but is representative of the street's age profile.
4. How does the lot size impact potential for expansion or outdoor space?
At just under 3,000 sqft, the lot is smaller than typical for the city and neighborhood. This limits potential for large additions or extensive landscaping. However, it also means minimal yard upkeep, which can be a positive for those seeking a low-maintenance outdoor space.
5. Are these rankings a good indicator of resale potential?
They indicate this property occupies a specific niche. Its resale will always be influenced by its size, but its position as a more affordable option in Waverley Heights provides a stable floor of demand. It appeals to a consistent segment of the market looking for location-first affordability.
