Property Summary: 562 Tremblay Street, Winnipeg
Key Characteristics & Appeal
This 1930s one-storey home in Archwood presents a straightforward opportunity on a notably large lot (3,299 sqft). Its primary appeal lies in its land value and location fundamentals. The lot size ranks in the top quarter for the street and neighbourhood, offering ample outdoor space and future potential in a mature community. The home itself is compact at 646 sqft with an unrenovated basement, positioning it as a true blank slate or a candidate for expansion.
Its strong suit is its relative value within a wider context. Recent sale prices show significant appreciation, and its assessed value sits comfortably above the majority of homes in Winnipeg, suggesting a solid underlying investment for the area. This property would best suit a hands-on buyer—perhaps a first-time investor comfortable with a gradual renovation, or a practical homeowner who values a large yard over a large house and is prepared to tailor the space to their needs over time. It’s a property where the value is more in what it could become than in its current state.
Frequently Asked Questions
1. Is the large lot size a common feature in this area?
No, it's a standout feature. The lot ranks in the top 24% on its own street and top 27% in the Archwood neighbourhood, meaning it's larger than most properties nearby.
2. What does the sale history indicate about the property's value?
The home sold for $218,000 in early 2024, a notable increase from its $135,000 sale in late 2020. This suggests strong market appreciation, though the current assessed value of $210,000 is slightly below that most recent sale price.
3. Who is responsible for the rankings provided (e.g., "Top 17% in Winnipeg")?
These rankings are generated by the listing platform (SaveOnHouse) based on their analysis of public data, comparing this property's specific metrics (like lot size, year built) against all other properties in the defined geographic area.
4. The living area is quite small. Is that typical for the neighbourhood?
At 646 sqft, it is below average for the area. It ranks in the top 12% of the neighbourhood, but only because that's a ranking where a smaller size is "better" (likely indicating lower property taxes or value). For reference, a nearby similar-aged home referenced at 555 Cusson Street is listed with 1,056 sqft.
5. The "For Reference" and "Similar Assessed Value" sections show other properties. Are they for sale?
Not necessarily. These are provided as contextual market comparisons by the listing platform. They show nearby addresses and homes in Winnipeg with a similar municipal assessed value ($210k) to help you gauge what this valuation can represent in different areas.