Property Summary: 4 Lake Fall Place, Waverley Heights, Winnipeg

Section 1: Key Characteristics & Appeal

This home presents a compelling value proposition centered on balance and efficiency. Its key characteristic is a well-sized 1,080 sqft living space that sits comfortably near the average for its immediate street and is manageable for a wide range of buyers. The standout feature is its property tax assessment of $292,000, which is notably lower than both the community and city averages. This suggests the potential for relatively lower ongoing property tax costs compared to similar-sized homes in the wider area.

The appeal lies in its position as a pragmatic choice. It’s not the largest or newest, but it offers solid fundamentals in a good location. Built in 1978, it is actually newer than many comparable homes on its street and in the Waverley Heights community. The lot size, while smaller than the area norm, translates to less yard maintenance—a plus for those seeking a low-maintenance lifestyle without sacrificing indoor space.

This property would suit first-time buyers or downsizers looking for a comfortable, established home in a desirable community without the premium price tag often associated with larger lots in the area. It’s also a sensible option for value-conscious investors or buyers who prioritize keeping predictable monthly costs, like property taxes, in check.

Section 2: Frequently Asked Questions

1. What does the tax assessment value really tell me?
The assessment value of $292,000 is used to calculate your property taxes. It being significantly lower than the community average (~$398,000) is a strong indicator that your annual tax bill should be proportionally lower than many neighbors’, which is a key long-term cost advantage.

2. Is the smaller lot a major drawback?
It depends on your priorities. While the lot is smaller than the community average, it is still a decent size and is actually above average for the specific street. This means less time and money spent on landscaping and yard upkeep, which many buyers see as a benefit.

3. How does the 1978 build year affect the home?
Built in 1978, this home is newer than many in its immediate vicinity. This can be an advantage, potentially meaning updates to building materials and systems. However, as with any home of this age, a thorough inspection is crucial to understand the condition of major components like the roof, windows, and mechanical systems.

4. The living area is described as "close to average." Is that good?
In this context, yes. It means the home offers a very typical amount of space for the neighborhood—not too small, not excessively large. It provides enough room for daily living while remaining efficient to heat and maintain, striking a practical balance.

5. Who might this home not be ideal for?
Buyers whose top priority is a very large, private yard or those seeking a brand-new, move-in-ready home with modern open-concept layouts may find this property less suitable. It is best viewed as a well-located, value-oriented home in an established neighborhood.