Property Summary: 33 Blue Lake Bay, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This 1979 bungalow at 33 Blue Lake Bay presents a distinct value proposition within the desirable Waverley Heights neighborhood. Its key appeal lies in a compelling combination of a newer build date, a generous lot for its immediate area, and a competitively assessed value.

The home’s living area of 920 sqft is notably compact, placing it below average for the street, neighborhood, and city. This characteristic defines its ideal buyer: someone seeking efficient, low-maintenance living without sacrificing location. The standout features are the year of construction, which is the newest on its street, and the land area of 3,565 sqft, which is significantly larger than the street average. This suggests a property with modern infrastructure (for its era) and better-than-typical outdoor space for the immediate block.

Financially, the assessed value of $319k is aligned with the street average and sits below the neighborhood average, offering a more accessible entry point into the area. This property would suit first-time buyers, downsizers, or investors looking for a solid, newer-built home in a well-regarded area, who prioritize lot size and modern construction over interior square footage. It’s a pragmatic choice for those who see potential in the land and building fundamentals, rather than a move-in-ready, spacious interior.

Section 2: Frequently Asked Questions

1. Is the house smaller than others in the area?
Yes. At 920 sqft, the living area is below the average for Blue Lake Bay street, the wider Waverley Heights neighborhood, and Winnipeg overall. This indicates an efficient, likely easier-to-maintain floor plan.

2. What are the property’s strongest points?
Its two strongest statistical points are its year built (1979), which is the newest on the street, and its lot size (3,565 sqft), which is over 700 sqft larger than the street average. This suggests a relatively modern structure with more private outdoor space than most neighbors.

3. How does the assessed value compare?
The $319k assessment is very close to the street average ($316.9k) but is meaningfully below the Waverley Heights neighborhood average ($398.1k). This indicates a valuation that is competitive on the block but may represent a value relative to the broader area.

4. Who would this property suit best?
It’s an excellent match for buyers who value location and lot size over sheer interior space. It would suit first-time buyers entering a stable area, downsizers looking for less space to maintain, or those with renovation plans who prioritize the land and newer building shell.

5. What is the neighborhood ranking like?
The home’s metrics are consistently stronger within its immediate micro-location (Blue Lake Bay street) than in the wider neighborhood. For example, its lot size is "Above Average" on the street but "Below Average" in Waverley Heights. This highlights the importance of considering both the specific block and the community context.