Property Overview & Key Characteristics
This 1951-built, one-storey home in Archwood sits on a larger-than-average lot (3,299 sq ft) for the street and neighbourhood. Its primary appeal lies in its solid foundation and lot size, offering a clear value proposition centred on land and location rather than a move-in-ready finish. The 624 sq ft living area is compact, placing it among the smaller homes in Winnipeg, which indicates a property best suited for efficient living or with expansion potential. It features a detached garage and an unrenovated basement.
The home would suit a first-time buyer comfortable with a project, an investor looking for a stable rental property in a well-ranked area, or a downsizer seeking a manageable footprint on a desirable lot. Its strong rankings for lot size within the neighbourhood and city suggest a premium on outdoor space. A thoughtful perspective is that while the interior is modest, the property’s value is anchored by its position in the top tier of Winnipeg for lot size, offering a rare opportunity to add value through renovations or an addition where space allows.
Frequently Asked Questions
1. Is the house in move-in condition?
The listing notes an unrenovated basement, suggesting the home may require updates. It is likely a solid candidate for cosmetic renovations or a more significant project to modernize it.
2. How does the lot size compare to others?
The lot is a key feature. At 3,299 sq ft, it ranks in the top 27% for size within the Archwood neighbourhood and the top 17% city-wide, meaning the property offers more outdoor space than most comparable listings.
3. What does the assessed value tell us?
The $250k assessment aligns with the last sale price (March 2023), indicating stable, market-based valuation. It ranks in the top third for value on its street, showing it is priced consistently with the immediate area.
4. Who might this property not suit?
It may not suit buyers seeking a large, modern living space immediately, as the current living area is quite compact. Families needing multiple bedrooms or extensive finished space would likely need to factor in the cost and time of a significant renovation or addition.
5. How does the age of the home factor in?
Built in 1951, it is newer than many homes on its street (ranking in the top 65%), which can be an advantage for systems and structure. However, given its age, a thorough inspection for foundational, electrical, and plumbing updates is advisable.