Property Overview
This renovated one-and-a-half storey home in Archwood presents a practical opportunity. Built in 1948, it sits on a generous 4,147 sqft lot, which is notably larger than many in Winnipeg. The home itself is a compact 900 sqft, featuring a renovated basement and a detached garage. Its appeal lies in its balance of updated essentials, a sizable yard, and a location that ranks well for lot size and newer construction within its immediate area. The assessed value has remained stable, closely aligning with its last sale price in mid-2020.
This property would suit first-time buyers looking for a manageable, updated starter home with room to grow outdoors, or an investor seeking a stable rental in a established neighbourhood. It’s less about grand features and more about solid fundamentals: a renovated basement adds functional space, the large lot offers future potential, and the rankings suggest it’s a comparatively newer home on a larger parcel than many of its direct neighbours.
Frequently Asked Questions
What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the seller or agent to understand if it’s a finished living space, a modernized utility area, or includes a legal suite.
How is the "rank" for lot size and year built calculated?
The rankings compare this specific property against others on the same street, in the Archwood neighbourhood, and across all of Winnipeg. For example, being in the top 28% in Winnipeg for lot size means over 70% of city lots are smaller. It’s a useful, data-driven way to gauge relative standing.
Is the detached garage heated or insulated?
This information is not provided. The condition, size, and amenities of the detached garage are important factors for storage, workshop space, or vehicle protection in Winnipeg winters.
Why is the assessed value significantly lower than typical Winnipeg sale prices?
Manitoba’s property assessments are not market valuations; they are used for municipal tax purposes. The assessed value is often much lower than current market value, so it should not be used as a direct guide for the listing or sale price.
What is the significance of the 2020 sale price being close to the current assessed value?
It indicates a stable tax assessment history without major, value-changing city-initiated adjustments. However, the real estate market has evolved since mid-2020, so the actual market value will be determined by current conditions, not that past sale price.