Property Overview
This 1924 two-storey home in Archwood presents a compelling mix of established character and solid fundamentals. Its primary appeal lies in its generous lot size and above-average living space for the area, offering a foundation for both comfortable living and future potential. The property suits buyers looking for a home with "good bones" in a mature neighbourhood, particularly those with the vision or budget to update an older home to their own taste. It’s a practical choice for a family seeking indoor and outdoor space over modern finishes, or for an investor recognizing the value in a large, well-located lot.
Key Characteristics & Ideal Buyer
The home sits on a large, approximately 5,933 sqft lot, ranking in the top 3% of the neighbourhood for land area—a rare find that provides ample private outdoor space and future possibilities. With 1,790 sqft of living space, the interior is also notably larger than most area homes. It features a detached garage and an unrenovated basement. While the home itself is older, its assessed value is very strong for its street and area, suggesting the municipal valuation sees solid underlying value in the property.
Its appeal is grounded in space and location rather than turn-key condition. The lot is its standout asset, offering room for gardens, play, or expansion. The neighbourhood rankings indicate it's among the larger, more valuable properties on its street and in Archwood, offering a sense of established stature.
This property would best suit a buyer who prioritizes land size and interior square footage over new renovations. It’s ideal for a handy person or a family planning a gradual, budget-conscious update. The large lot also makes it interesting for those who might envision a future addition, garage workshop, or lush garden. The strong assessment value relative to the area could appeal to the value-conscious buyer who sees beyond surface-level cosmetics.
Frequently Asked Questions
Q: What does the "unrenovated basement" typically imply?
A: It likely means the basement is in original or functional condition, with finished areas that are dated or with basic utility spaces. Buyers should budget for potential updates to insulation, flooring, or layout to modernize the space.
Q: The home is over 100 years old. What should I be most concerned about?
A: While systems may have been updated over time, a priority inspection should focus on the foundation, roof, plumbing, and electrical wiring to understand the home's current state and anticipate any major upcoming investments.
Q: The lot is large, but are there any restrictions on how I can use it?
A: You should verify the property's zoning with the city to understand what is permitted. This will clarify options for adding structures like a shed, expanding the home, or building a new garage.
Q: The home last sold in late 2020. How should I interpret that sale price in today's market?
A: The 2020 sale price is a historical data point, but market conditions have shifted since then. It's more useful to look at the current assessed value as a baseline and then compare the home to recently sold properties of similar size and lot dimension in Archwood for a current market value.
Q: The rankings show the home is older than most in Winnipeg. Is that a disadvantage?
A: Not necessarily. While newer homes may have modern layouts, an older home like this in a mature neighbourhood often comes with established landscaping, larger lot sizes, and unique character that newer subdivisions typically don't offer. It's a trade-off based on personal preference.