Property Overview

This home at 46 Lake Grove Bay in Waverley Heights stands out for its generous proportions and established value. Its primary appeal lies in offering above-average space on a significantly larger-than-average lot within a mature, sought-after neighborhood. With 1,840 sqft of living area, it ranks in the top 11% on its own street and the top 6% within Waverley Heights. The nearly 9,800 sqft lot is a key asset, placing it in the top 5% of the neighborhood for land area. Built in 1978, the home is typical for its street but newer than many across Winnipeg.

The property’s assessed value of $510K is notably high, ranking in the elite top 5% on Lake Grove Bay and top 6% in the neighborhood, signaling strong market recognition for its combination of size and location.

This home would best suit buyers looking for established community charm with room to breathe. It’s ideal for those who prioritize generous outdoor space over a brand-new build, and for value-conscious buyers who appreciate a home that already commands a premium assessed value relative to its surroundings—a marker of stability and desirability. It offers a chance to own a property that outperforms most of its local peers in terms of sheer physical space and lot size.

Frequently Asked Questions

Q: How does the home’s age (1978) affect its appeal?
A: While newer than the citywide average, the year built is around average for this specific street. This suggests the home is in line with the character of a mature, established area. Buyers should focus on the condition of major systems (roof, windows, HVAC) typical of this era, balanced against the value offered by the larger lot and living space that often comes with homes of this vintage.

Q: The assessed value seems high for the street. What does that indicate?
A: An assessed value ranking in the top 5% on the street, while the living area ranks top 11%, suggests the official valuation recognizes additional factors beyond pure square footage. This could be due to the premium lot size, significant updates, superior finishes, or an advantageous position on the street. It’s a strong data point for the property’s perceived worth.

Q: Is the large lot more of an advantage or a maintenance burden?
A: It’s both. The lot is a standout feature offering exceptional privacy, space for gardens, play, or expansion. However, it also means higher costs and effort for landscaping, lawn care, and snow removal compared to the neighborhood average. Its value is for buyers who specifically want and will use that space.

Q: The rankings show “Above Average” at city level, but “Elite” or “Top 6%” in the neighborhood. How should I interpret this?
A: This pattern is key. It tells you this property is not just a good home for Winnipeg; it’s a leading home within the desirable Waverley Heights area. You are buying into the upper tier of a community that itself ranks highly city-wide, which can be a stronger indicator of value retention than citywide comparisons alone.

Q: What’s the main takeaway from these statistics?
A: The data paints a picture of a property that excels in the metrics people often pay a premium for: space and land. You are getting more house and significantly more yard than most of your neighbors, in a neighborhood where those attributes are highly valued, as reflected in its above-average assessed value.