Property Overview
This one-and-a-half storey home on a 4,251 sqft lot in Archwood presents a grounded opportunity in Winnipeg’s market. Built in 1948, its key appeal lies in its substantial, well-sized lot—ranking in the top 14% for size on its street—and a location that consistently performs above average for the neighbourhood and city. The 888 sqft living space is modest, but the property’s value is underpinned by the land and location. It features a detached garage and an unrenovated basement, indicating a home ready for updates.
Its steady, significant appreciation in recent years (from $214k in 2017 to $300k in 2022) suggests strong market confidence in the area. This property would suit a practical buyer looking for a solid entry point into a stable neighbourhood, willing to take on cosmetic or functional updates over time. It’s also a sensible option for an investor seeking a property with proven value growth, where the land asset provides a strong foundation. The appeal here isn’t luxury finishes, but rather a sound, strategic purchase in a home with honest potential.
Frequently Asked Questions
1. What is the neighbourhood like?
Archwood is a mature, established neighbourhood in Winnipeg. The property ranks in the top 22% for lot size within Archwood, indicating it’s on one of the larger, more desirable streets in the area.
2. Is the basement finished?
No, the basement is noted as “not renovated,” meaning it is unfinished or in a rough state. This presents both a cost and an opportunity for future expansion or customization.
3. How does the assessed value compare?
The $270k assessment is very close to the middle range for the street and neighbourhood, but ranks in the top 27% city-wide, suggesting the city views the property and area favorably compared to many others in Winnipeg.
4. Has the property value increased?
Yes, significantly. It sold for $214k in 2017, $237k in 2019, and $300k in 2022. This trajectory shows strong value growth over a five-year period.
5. What are the key things to consider?
The major points are the unrenovated condition, indicating a need for investment, and the home’s modest living space relative to its large lot. The trade-off is clear: you are investing primarily in location and land, with the home itself requiring modernisation.