Property Overview & Key Characteristics
This 1928 one-and-a-half storey home in Archwood presents a classic Winnipeg character property on a generously sized lot. Its key appeal lies in a combination of established neighbourhood charm, a renovated basement adding functional space, and a land footprint that is notably larger than many in the area. The home's assessed value ranks highly within its immediate street and neighbourhood, suggesting it is well-positioned relative to nearby properties.
The property would suit a first-time buyer or downsizer looking for a manageable, character-filled home with some updated elements and the value of a large yard. It also appeals to a buyer who prioritizes lot size over sheer living space, seeing potential for outdoor enjoyment or future expansion. A thoughtful perspective is that while the living area is modest, the high ranking of its lot size and assessed value in the area indicates a property that derives significant worth from its land—a solid foundation in real estate.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement has been renovated, but specifics on finish quality, ceiling height, and legal compliance should be verified with the seller or a viewing.
2. How does the lack of a garage affect parking and storage?
The property has no garage. Buyers should assess on-street parking availability and consider the cost of adding a shed or future parking structure, balanced against the larger lot which provides more flexibility for such additions.
3. The home is nearly 100 years old. What should I be mindful of?
While the renovated basement is a plus, a pre-purchase inspection is crucial to assess the condition of original elements like the foundation, plumbing, electrical systems, and the roof.
4. The living area is ranked lower than the lot size and value. What does this mean?
This indicates you are buying more for the land and location than for the size of the current house. It can represent a value opportunity if you are comfortable with the existing footprint or see long-term potential to enhance the structure.
5. How does the 2016 sale price compare to today's value?
The home sold for $24,400 in 2016 and now has an assessed value of $29,200. This change reflects market trends and any improvements made, but the actual market price will be determined by current conditions.