Property Overview: 590 Guilbault Street, Winnipeg
Key Features & Ideal Buyer
This well-situated one-and-a-half storey home in Archwood presents a compelling blend of space, location, and value. Its key characteristics include a generous 1,752 sqft of living area—ranking it in the top 3% on its street and top 2% in the neighbourhood—on a large 4,871 sqft lot. The home features a renovated basement and a detached garage, and was built in 1952.
The appeal lies in its established, quiet setting combined with standout metrics for space. It offers more interior room than nearly all comparable nearby homes, providing rare potential for a family or someone needing flexible space without the premium of a new-build. The lot size is also significantly above average for the area. It last sold in June 2023 for $290k, with a current assessed value of $35.9k.
This property would suit a practical buyer looking for a character home in a mature neighbourhood who prioritizes interior square footage over a modern footprint. It’s ideal for someone who sees value in the underlying assets—the large lot and spacious floor plan—and is possibly willing to update the living spaces over time. The renovated basement adds immediate functional utility.
Frequently Asked Questions
1. How does the sold price from 2023 relate to today’s value?
The $290k sale in mid-2023 provides a recent market benchmark. Current value would be influenced by subsequent market conditions, any updates made, and the home’s well-above-average living area and lot size.
2. What does the “renovated basement” entail?
The listing confirms the basement is renovated but does not specify the scope. A buyer should inquire about the finish quality, permits, and whether it includes added bedrooms, a legal suite, or simply finished living space.
3. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for taxation purposes is not a market appraisal. It often lags behind current market values and is calculated using a mass appraisal system, which explains the difference from the actual sale price.
4. How does the lot size benefit a buyer?
At nearly 5,000 sqft, the lot is larger than most in the vicinity. This not only provides more private outdoor space but also offers greater potential for additions, landscaping, or future development, subject to zoning.
5. The home is older—what should I consider?
Built in 1952, the core systems (roof, wiring, plumbing, insulation) should be carefully evaluated. However, its age is typical for Archwood, and the home ranks newer than over 70% of Winnipeg properties, suggesting it may be in relatively good condition for its era.