Property Summary: 38 Lakeside Drive, Waverley Heights, Winnipeg

Key Characteristics & Appeal

This 1,120 sqft bungalow, built in 1977 on a 6,047 sqft lot, presents a compelling value proposition within the established Waverley Heights neighborhood. Its primary appeal lies in its competitive assessed value of $383k, which is notably below the street average and aligns with broader area and city benchmarks. This creates an accessible entry point into a desirable street where homes are typically valued higher.

The property suits first-time buyers, downsizers, or value-focused investors seeking a solid foundation in a mature community. While the living space is more compact than others on Lakeside Drive, it is comfortably on par with the wider neighborhood. A thoughtful perspective is that the home’s older vintage, relative to the street, may offer untapped potential for updates that could increase its value in a context of generally newer homes. Furthermore, the lot size, while smaller than others on the block, is actually above average city-wide, offering good outdoor space for the area.

Frequently Asked Questions

1. Is the home’s below-average size for the street a major drawback?
Not necessarily. While the living area is smaller than the street average, it is consistent with many homes across the Waverley Heights neighborhood and Winnipeg overall. It represents a more efficient and potentially easier-to-maintain footprint.

2. Why is the assessed value so much lower than the street average?
The assessed value is influenced by multiple factors, including the home's size, age, and specific features. Its ranking suggests it is perceived as a more modest property on a street with larger or more updated homes, which is reflected in its official valuation.

3. What does the "Above Average" city-wide ranking for land area mean?
It indicates that, compared to similar properties across all of Winnipeg, this home's lot is larger than most. This is a positive attribute, offering more private outdoor space than the typical city property.

4. How should I interpret the year-built rankings?
The home was built in 1977, which is newer than many city-wide comparables but is one of the older homes on its specific street. This suggests the immediate area has seen redevelopment or newer construction over time.

5. Are these rankings a good indicator of future value?
They are a snapshot of current comparative metrics, not a prediction. The data shows the home is priced accessibly within its immediate context, which could provide a stable base. Any renovations or market shifts could positively influence its future standing.