Property Overview
This 1948 one-and-a-half storey home in Archwood presents a classic Winnipeg character property on a generous 4,146 sqft lot. Its key appeal lies in the combination of a renovated basement, a living area size that ranks above average for the city, and a lot size that is well above the neighbourhood norm. The home last sold in 2017 for $260,000, and its current assessed value is notably lower, which may attract attention from value-conscious buyers.
The property would suit a first-time buyer, an investor, or a downsizer looking for a solid, no-frills home with clear potential and space to grow. Its above-average city rankings for lot and living area size, paired with a lower assessed value, suggest a property where the intrinsic value may lie more in the land and its condition than in its official valuation. A thoughtful perspective is that this home represents a pragmatic entry into a mature neighbourhood—it’s not the newest or most lavishly assessed on the block, but it offers the foundational elements (space, location, a renovated core area) that allow a buyer to add value according to their own needs and timeline.
Frequently Asked Questions
What does "one-and-a-half storey" typically mean for this era of home?
It usually indicates a home with a main floor and a second floor under a sloped roof, where the upstairs rooms may have cozier, angled ceilings. This style is common for Winnipeg houses built in the mid-20th century.
The assessed value is much lower than the 2017 sale price. Why is that?
Municipal assessed value for taxation purposes is not the same as market value. It is based on a mass appraisal system and can lag behind actual market sales. The significant difference here suggests the market at the time of last sale valued the property highly, possibly due to the renovated basement or other features not fully captured in the assessment.
How does the lot size compare to others?
The lot is a strong feature. At over 4,100 sqft, it ranks in the top 28% for size across Winnipeg, meaning it offers more outdoor space than most city lots, which is a valuable asset.
The home is 78 years old. What should I consider?
While the basement is noted as renovated, a home of this age will require diligent attention to its original core systems, such as plumbing, electrical, and the foundation. A thorough inspection is essential to understand the condition of these older elements.
Who might this property not suit?
It may not suit buyers seeking a modern, open-concept layout or a turn-key property with no projects. The garage is listed as "None," so it would also not fit someone requiring dedicated, enclosed parking.