Property Overview & Key Characteristics
This one-and-a-half storey home on a spacious 4,354 sqft lot in Archwood presents a classic Winnipeg post-war character. Its key appeal lies in a combination of a generous, established lot size—ranking in the top 20% for the neighbourhood—and a recently renovated basement, adding valuable modern living space. While the 900 sqft living area is modest, the property’s land value and updated lower level offer a solid foundation. The home last sold in early 2022, providing a recent market benchmark.
Its charm is practical rather than luxurious, suited for a first-time buyer, an investor, or someone seeking a manageable footprint in a stable neighbourhood without a condo fee. The detached garage and larger-than-average lot are significant assets for storage, gardening, or future expansion. A thoughtful perspective is that this property represents an entry into a neighbourhood where the land itself holds substantial value; the house can be lived in as-is while the lot represents long-term potential. It would suit a buyer comfortable with a home that has good bones and a renovated basement, but who may plan to update the main living spaces over time.
Frequently Asked Questions
1. How does the lot size compare to others nearby?
The 4,354 sqft lot is a standout feature, ranking in the top 20% for size within the Archwood neighbourhood, offering more outdoor space than many comparable properties.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, permits, and suitability for your needs.
3. The home sold recently in 2022. What does that indicate?
The sale price of $250k two years ago provides a clear, recent market value point. Understanding why it’s back on the market, and comparing current conditions to 2022, will be key to assessing its present value.
4. Is the assessed value a good indicator of market price?
Not directly. The assessed value of $27.4k is for municipal tax purposes. The recent sale price and current market comparisons are far more relevant for determining fair market value.
5. What are the implications of the "one-and-a-half storey" design?
This typically means the second level has sloped ceilings (following the roof line) and potentially smaller rooms. It offers character and extra space but may have a different layout feel than a full two-storey home.