40 East Lake Drive

Waverley Heights, Winnipeg

Property score

64.0

Fair

Overall 64.0 · Smaller but newer than most nearby homes

900 sqft (bottom 9%) · Built in 1978

Located in a high-income area with median household income of ~97k

Transit 76.0 · 5-min walk to transit with 4 nearby routes · Within 500m: 1 dining spot, 2 schools, 5 healthcare facilitys, and 3 shops nearby

Living Area

Below average

27% smaller than neighborhood avg.

Year Built

Above average

0 yrs newer than neighborhood avg.

Mother tongue

English · 50%Punjabi · 13%

Past 10 years Waverley Heights sales snapshot (~80% of all data)

Sold Count

627

Median price

415k

$/sqft

$333/sqft

Avg build year

1978

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Property score

64.0 is composed by the two sections below.

Property Score

52.6Fair
Living Area42
900 sqftLow
Year Built67
1978Good
Lot Size74
5,873 sqftGood
Neighbourhood Sales Activity59
Fair

Community Score

81.0Excellent
Household Income83
Excellent
Education Level72
Good
Housing Stress83
Excellent
Core Housing Need100
Excellent
Employment Health68
Good

Neighbourhood Sales

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.

Market Conditions · WinnipegSeller's Market
Buyer'sBalancedSeller's

Sales-to-New-Listings

64.6%

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

65%

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.

Area census snapshot

Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46110980

Community deep dive

$97K

Median household income

$107K

Average household income

10%

Low income (LIM-AT)

0.2

Income inequality (Gini)

3.0

P90 / P10 ratio

10%

Single-person households

31%

Families with children

Population, labour & age

Population (2021)599
Labour force participation rate71%
Median age32.8
Avg household size3.1
Unemployment rate12%
Population density2995 / km²

Households & income

Low income (LIM-AT, % pop.)10%
Single-person households10%
Couple families with children31%
Median household income (2020)$97K

Housing

Renter households22%
Condominium dwellings7%
Median dwelling value (owners)$300K

Diversity, education & language

Immigrants (share of pop.)34%
Visible minority59%
Bachelor's or higher (25–64)38%
Mother tongue (1st)English · 50%
Mother tongue (2nd)Punjabi · 12%

Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.

Rankings

Living Area

below average
900 sqft
0255075100
Same streetBottom 26%Same areaBottom 9%CitywideBottom 17%
Same street · East Lake Drive
#23 / 31
Bottom 26% · Avg 1,003 sqft
Same area · Waverley Heights
#1,493 / 1,633
Bottom 9% · Avg 1,239 sqft
Citywide · Winnipeg
#162,141 / 194,458
Bottom 17% · Avg 1,342 sqft

Tax-Assessed Value

above average
334k
0255075100
Same streetTop 13%Same areaBottom 25%CitywideBottom 40%
Same street · East Lake Drive
#4 / 31
Top 13% · Avg 310.3k
Same area · Waverley Heights
#1,231 / 1,633
Bottom 25% · Avg 398.1k
Citywide · Winnipeg
#115,799 / 194,458
Bottom 40% · Avg 390.1k

Year Built

above average
1978
0255075100
Same streetTop 16%Same areaTop 18%CitywideTop 35%

Lot Size

above average
5,873 sqft
0255075100
Same streetTop 6%Same areaBottom 48%CitywideTop 35%

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.

Transit & Walkability

Nearby stops, routes & transit score

Nearby Amenities

Dining, education, healthcare, shopping & more

40 East Lake Drive — 14 amenities found within 500 m, across 6 categories, including 1 dining (nearest 445 m), 2 education (nearest 272 m), 5 healthcare (nearest 383 m).

Search radius
🍽️Dining1
🏫Education2
🏥Healthcare5
🛒Shopping3
🌳Parks2
Fuel Stations1

Crime & Safety

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%

Sales History

40 East Lake Drive: We are not showing a transaction history based solely on public data; that does not mean no sale ever occurred. You can still request details by email in the “Data notes” section below—we will look it up manually and reply with the most accurate information available.

Related homes

Highlights & common questions: 40 East Lake Drive, Winnipeg

Property Overview: 40 East Lake Drive, Waverley Heights

Key Characteristics & Appeal

This 1978-built home in Waverley Heights presents a distinct profile defined by its generous lot and efficient footprint. At 900 sqft, the living area is notably compact, ranking below average for the street, neighborhood, and city. However, this is balanced by a land area of 5,873 sqft, which is significantly larger than most lots on East Lake Drive, ranking in the top 6% on the street. The assessed value of $334k sits above the street average but below the broader neighborhood average, suggesting a premium for its specific location and lot size within an immediate context of smaller, similarly valued homes.

The primary appeal lies in its land potential and location. The sizable lot offers room for expansion, gardening, or outdoor living—a relative rarity on the street. It suits a specific buyer: perhaps a downsizer seeking a manageable interior without sacrificing yard space, a first-time buyer comfortable with a cozy layout who values future expansion potential, or an investor recognizing the underlying land value. Its value proposition is less about the current home's size and more about the property's inherent assets—its position on a desirable street and the possibilities afforded by the lot.


Frequently Asked Questions

1. Is the home's below-average living area a concern?
It depends on your needs. The home is functionally compact, which suits minimalist living or lower maintenance. The data suggests you are paying primarily for location and land, not square footage. Consider whether the layout works for you now or if you're willing to renovate or expand later.

2. Why is the assessed value above the street average if the house is smaller?
The assessed value reflects more than just living area. Its high ranking on the street is likely influenced by its substantially larger lot size compared to neighbors and its specific location. Value is driven by the land asset and its position within a sought-after pocket of Waverley Heights.

3. How does the year built affect this property?
Built in 1978, it is typical for the immediate area. This means potential renovations should account for building standards and materials of that era. On a positive note, it places the home after the ban of aluminum wiring in 1973, a common concern in slightly older Winnipeg homes.

4. What can the nearby property listings tell me?
The listed nearby and similar homes show a consistent pattern on East Lake Drive: homes from the same era with modest sizes but solid values. This indicates a stable, established street where values are supported by the area's overall desirability, not by oversized homes.

5. How reliable is the price history provided here?
The site notes that its transaction history is based on public data, not MLS records, and may be incomplete. For fully verified sales history and exact figures, you must request a manual lookup via email, as industry rules prevent the display of MLS sold data on public platforms.