Property Overview & Key Characteristics
This one-storey home in Archwood presents a practical opportunity with a few distinct advantages. Its primary appeal lies in the combination of a very generous, nearly 5,000 sqft lot and a recently renovated basement, offering space and modernized utility in a mature neighbourhood. The living area (672 sqft) is compact, suggesting a home suited for efficient living or with potential for expansion, given the large lot size.
The property’s data reveals a nuanced position. While the home itself is older (built 1936) and smaller than many in the city, its lot size ranks in the top 11% for the neighbourhood, which is a significant asset. The assessed value is moderate for the area. This profile would suit first-time buyers, downsizers, or investors looking for a land-value proposition in a stable community. It’s a home where the value may be more in what you can do with the property over time rather than in its current footprint, appealing to those with a vision for outdoor space, gardening, or future additions.
Frequently Asked Questions
1. How does the recent basement renovation impact the home's value?
A renovated basement adds immediate functional living space and modern amenities, which is a strong positive for livability. It typically means less upfront work for a buyer compared to a home with an unfinished or dated basement.
2. The living space seems small. Is there room to expand?
The nearly 5,000 sqft lot is a key feature here. It is substantially larger than many in Winnipeg and provides a clear opportunity for future additions, a large garage, or extensive outdoor living space, subject to local zoning and permit approvals.
3. The home last sold in 2016. What does that history suggest?
A sale eight years ago indicates the current owners have had a stable tenure. The sale price at that time was below the current assessed value, which generally aligns with broader market trends over that period.
4. How does the assessed value compare to similar homes?
At $26,500, the assessment is mid-range for Archwood and sits higher than over 70% of Winnipeg properties. This suggests the municipal assessment recognizes the lot value and renovation, but it is not assessed at a premium level for the neighbourhood.
5. What is the neighbourhood context for this property?
Archwood is a mature, established neighbourhood. The home’s lot size ranks very well locally, but the structure itself is older than most on its street. This indicates a street with a mix of home ages and sizes, where this property stands out for its land parcel.