Property Summary: 623 Guilbault Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 1931-built, one-storey home in Archwood sits on a generous 4,044 sqft lot, which is notably larger than most in the immediate area. With 808 sqft of living space, the interior is compact but efficiently sized for its era. A key modern update is the renovated basement, adding valuable functional space. The home lacks a garage, which is common for the neighbourhood and period.
Its primary appeal lies in its solid fundamentals within a well-established community: a large lot offering outdoor potential, a modernized lower level, and a location that ranks favorably for lot size and year built compared to much of Winnipeg. The recent sale history shows significant value growth since 2020, suggesting a positive trajectory.
This property would best suit first-time buyers or downsizers seeking a manageable, single-level home with a low assessed value and the upside of a renovated basement. It’s a practical entry into a mature neighbourhood where the land itself represents a substantial portion of the value. Investors or renovators might also see potential in the sizable lot for future expansion or landscaping, given the home’s modest footprint.
Section 2: Frequently Asked Questions
Q: What does the "renovated basement" typically include in a home of this age?
A: While specifics require a viewing, in this context it generally means the basement has been modernized for livable space—likely including finished walls, flooring, and ceiling—making it suitable for a family room, office, or additional bedrooms. It’s wise to confirm the scope of work, permits, and moisture control.
Q: The home has no garage. What are parking options?
A: The property likely has space for a driveway or on-site parking given the lot size. Many homes on the street may use detached sheds or carports. Checking local bylaws for the potential to add a garage or covered parking in the future would be advisable.
Q: The assessed value is significantly lower than the 2022 sale price. Why?
A: Municipal assessed value for tax purposes often lags behind market value and is calculated using mass appraisal techniques. The 2022 sale price is a stronger indicator of current market value, with the assessment reflecting an older valuation point.
Q: How does the smaller living area (808 sqft) compare to the neighbourhood?
A: It’s slightly below the neighbourhood average, placing it in the top 39%. This indicates a compact, efficient layout. The renovated basement effectively expands the usable space, making the overall footprint more competitive.
Q: The lot is large, but what about the home's condition given its age?
A: Built in 1931, the core structure is nearly a century old. While the basement is renovated, a thorough inspection is crucial to understand the condition of major aging components like the roof, foundation, plumbing, and electrical systems, which may need updating or maintenance.