Property Summary: 3 Shearwater Bay, Waverley Heights

Key Characteristics & Appeal

This 1,027 sqft bungalow, built in 1979, presents a compelling opportunity in the Shearwater Bay area. Its primary appeal lies in its position as one of the newest homes on its street, ranking in the top 5% locally for year built, which suggests potentially fewer major age-related updates compared to neighbors. The assessed value of $325k sits below averages for both the street and the wider Waverley Heights neighborhood, indicating a competitively priced entry point into the area.

The property suits practical buyers seeking value and simplicity. It’s ideal for first-time homeowners, downsizers, or investors looking for a manageable footprint without a premium price tag. The lot size is typical for the immediate street, offering modest outdoor space without extensive maintenance demands. A thoughtful perspective is that while the living area is below regional averages, this translates to lower utility costs and less space to furnish and maintain—an advantage for those prioritizing efficiency and affordability over sheer size. Its value proposition is clear: you are acquiring one of the newer homes on the block for a price that is notably below the local neighborhood benchmark.

Frequently Asked Questions

1. Is the below-average living area a significant drawback?
Not necessarily. While the home is cozier than many in the wider city, its efficient layout may meet all essential needs. This often results in lower heating, cooling, and property tax costs, which is a key trade-off for the attractive purchase price.

2. Why is the assessed value lower than the neighborhood average?
The assessed value reflects the property's specific attributes, like its smaller square footage and lot size compared to the Waverley Heights area norm. This doesn't indicate a problem; rather, it highlights this home's role as a more affordable option within a desirable community.

3. What does "one of the newest on the street" actually mean for me?
A 1979 build date is newer than most direct neighbors. In practical terms, core components like the roof, windows, and major systems may have been updated more recently or could be closer to their original lifespan than those in older homes, potentially deferring major capital expenses.

4. How does the lot size impact potential for expansion or enjoyment?
At just over 4,000 sqft, the lot is standard for Shearwater Bay but smaller than many in Winnipeg. This limits possibilities for large additions or sprawling gardens but is perfectly suitable for a patio, small lawn, and low-maintenance landscaping.

5. Who would this property NOT be well-suited for?
It may not suit buyers who require ample indoor space for a growing family, those who desire extensive outdoor privacy and room, or anyone seeking a home at or above the neighborhood's average size and value. It is a home for needs-based, value-oriented purchasing.