Property Summary: 9 East Lake Drive, Waverley Heights

Key Characteristics & Appeal

This 1,152 sqft bungalow, built in 1978, presents a compelling value proposition within the established Waverley Heights neighborhood. Its primary appeal lies in its efficient use of space and its relative affordability. The living area is notably above average for its specific street, ranking in the top 6%, suggesting a well-proportioned home in its immediate context. However, the standout characteristic is its assessed value, which is significantly below the neighborhood and city averages, ranking in the 97th percentile for the area. This creates a clear entry point into a desirable locale.

The property suits first-time buyers or downsizers seeking a lower-maintenance, single-level home in a mature community without a premium price tag. It also appeals to value-conscious investors or buyers who prioritize location and floor plan over a large lot, as the land area is compact compared to surrounding properties. A thoughtful perspective is that this home offers the benefits of a stable, older street—where the homes are of a similar age and style—without commanding the higher prices seen on lots with more land. It’s a practical choice for those who see the yard as a manageable space rather than a primary requirement.

Frequently Asked Questions

1. Is the below-average assessed value a concern?
Not necessarily. It primarily indicates a lower property tax base, which is a financial benefit. The value is consistent with the home’s specific attributes (like lot size) compared to others in the wider area. The final market price is determined by buyer demand.

2. How does the smaller lot size impact living here?
The 1,980 sqft lot means minimal yard maintenance, which is a plus for many. It does limit potential for large additions or extensive outdoor recreation space. Privacy and spacing from neighbors should be considered during a viewing.

3. The home is older. What should I budget for?
Built in 1978, it is newer than many in the city but will likely require updates to major systems (roof, windows, HVAC) due to age. A thorough inspection is essential to prioritize any necessary repairs or modernizations.

4. Why is the living area considered above average on the street?
This means that, compared to the 31 directly comparable homes on East Lake Drive, this home offers more interior space than most. It suggests a efficient or potentially expanded layout relative to its immediate peers.

5. What does the "ranked" data actually tell me?
The rankings show how this property compares to similar homes in three circles: its street, its neighborhood (Waverley Heights), and all of Winnipeg. It helps you understand if a feature like size or value is typical for the immediate area or stands out in a wider context.