535 Tremblay Street

Property Overview: 535 Tremblay Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Archwood presents a specific and compelling value proposition. Its key characteristic is a significant contrast: the house itself is quite modest at 576 sq ft, ranking it among the smaller homes in the area, but it sits on a generous 3,300 sq ft lot. This creates a clear opportunity for expansion or outdoor living. The basement has been renovated, adding functional space, and the property includes a detached garage.

The appeal lies in its position as a solid, entry-level property in a well-established neighbourhood. With an assessed value notably lower than its last sold price in 2022, it may attract buyers looking for a potential value opportunity. Its lot size is a standout feature, offering future potential that many newer infill properties lack. This home would suit first-time buyers, downsizers seeking a manageable footprint with outdoor space, or investors looking for a character property with redevelopment possibilities. It’s for those who see the value in the land and are comfortable with a cozy living space or willing to undertake a future renovation.

Section 2: Frequently Asked Questions

1. Why is the living area so small compared to the lot size?
This is common for homes built in this era (1948). The original design prioritized larger lots, and the smaller house footprint reflects post-war construction styles. This discrepancy is precisely what offers potential for additions or garden space.

2. The assessed value is lower than the 2022 sale price. What does this mean?
Municipal assessed value for taxation doesn't always equal current market value. The lower assessment could reflect a broader market adjustment or specific property factors, but it also suggests the municipal tax base is relatively modest for the area. It's essential to evaluate based on recent comparable sales.

3. What is the neighbourhood like?
Archwood is a mature, established neighbourhood. The rankings show this property is on a street with a mix of older and newer homes, placing it in the top third of the area for lot size. This indicates a streetscape with variety and potential ongoing renewal.

4. Is there room to expand the house?
The generous lot size certainly allows for that possibility, subject to local zoning bylaws and setback requirements. The existing small footprint makes a lateral addition or a significant renovation a feasible future project.

5. How does this compare to nearby properties?
The provided comparisons show a range. Similar assessed values can be found across the city, but key local comparables like 584 Guilbault Street (also in Archwood, larger house, slightly higher assessment) help contextualize value. The nearby sales on Tremblay Street itself show active turnover, suggesting a desirable block.