Property Overview
This 1940s one-storey home in Archwood presents a practical opportunity in a well-established Winnipeg neighbourhood. Its key appeal lies in a combination of a renovated basement, a larger-than-average lot, and a living space that is compact yet efficient for its era. The detached garage and the home's position in the top tiers for lot size and living area within its immediate area add to its solid, no-frills character. It suits first-time buyers looking for a manageable footprint with some updated elements, or investors seeking a stable rental property in a neighbourhood that shows consistent demand. A thoughtful perspective is that while the house itself is modest in size, the generous lot offers valuable future potential for expansion or landscaping, something not always available in this price range. Its assessed value has remained steady, suggesting it's viewed as a reliable asset rather than a speculative play.
Frequently Asked Questions
1. How does the living area compare to modern homes?
At 639 sqft, the main floor living area is compact. This reflects its 1940s build and is significantly smaller than the average new build. However, it ranks in the top 10% for size within the Archwood neighbourhood, indicating many homes here are of a similar, efficient scale.
2. What does the "renovated basement" likely include?
The listing confirms a renovated basement but does not specify finishes or legal status. Buyers should inquire if the renovation created a separate suite, added bedrooms, or simply updated a recreational space, and should verify all work was permitted.
3. The home last sold in March 2021. Is the current price justified?
The 2021 sale was at $229,000. With a current assessed value of $260,000, the market recognizes moderate appreciation. This stability, coupled with the renovated basement and lot size, forms the basis for its value in the current market.
4. Is the property a good investment compared to the area?
The data suggests a balanced position. Its assessed value is near the middle for the street but in the top 45% for the neighbourhood and city, indicating Archwood as a whole retains value well. It's not the most premium lot on the block, but it holds its own.
5. What are the less obvious pros and cons of a 1940s build like this?
A pro is the potential for sturdy construction and character often found in older homes. A significant con, beyond potential for outdated systems, is the home's energy efficiency likely lags behind modern standards, which should be factored into ongoing cost expectations.