Property Overview

This home at 74 Lake Grove Bay in Waverley Heights presents a distinct profile defined by its generous lot and modern build relative to its surroundings, paired with more compact living space. Its appeal is rooted in this specific balance, suiting buyers whose priorities lean towards outdoor potential and a newer structure over sheer interior square footage.

Key Characteristics & Appeal

The standout feature is the property’s above-average, nearly 7,000 sqft lot, which offers more private outdoor space than most homes in the neighborhood and city. Coupled with a 1981 build year—one of the newest on its street—it suggests a home with potentially fewer major age-related concerns than many peers. The trade-off is a living area of 1,000 sqft, which is notably below the averages for the immediate street and wider city. This creates a unique value proposition: you are acquiring a newer home on a premium-sized lot in a established area, but the interior is efficiently sized.

This profile would best suit a buyer who values land for gardening, recreation, or future expansion over a large existing footprint. It’s also a practical match for those seeking a manageable space to maintain without sacrificing yard size, or for investors who see the lot size and newer build as key appreciating factors in a neighborhood of older, smaller-lot homes.

Frequently Asked Questions

1. Is the house significantly smaller than its neighbors?
Yes, at 1,000 sqft, the living area is below the average for Lake Grove Bay (1,383 sqft) and Winnipeg overall. The home prioritizes lot size and a newer construction date over interior square footage.

2. How does the assessed value compare?
The assessed value of $412k is slightly below the street average but aligns closely with the neighborhood and city averages. This reflects a market valuation that balances the desirable lot and newer build against the smaller living area.

3. What does the 1981 build year mean in context?
Built in 1981, this is one of the newest homes on Lake Grove Bay. For the area, this is a notable advantage, typically implying updated building materials, electrical systems, and insulation standards compared to much of the housing stock from the 1960s and 70s.

4. Is the large lot unusual for Winnipeg?
The lot size of 6,998 sqft is above average for both Waverley Heights and the city of Winnipeg. It offers a substantial outdoor space that is less common in newer subdivisions.

5. Who might this property not suit?
Buyers requiring extensive indoor living space, multiple large bedrooms, or who prefer a home with interior proportions that match or exceed their neighbors’ on the street may find this layout too compact. Its appeal is specific to a land-centric perspective.