Property Overview: 763 Archibald Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, post-war one-storey home in the Archwood neighbourhood, built in 1948. Its primary appeal lies in the combination of a generous, mature lot and a recently renovated basement, offering a solid foundation for comfortable living or future expansion. With over 5,260 square feet of land, the property ranks in the top third for lot size on its street, providing valuable outdoor space that is increasingly rare in older neighbourhoods.
The home itself is modest in size at 735 sqft, which suggests a focus on efficient, manageable living. The detached garage adds practical utility. Its assessed value places it in the middle range for the street but in the top 30% for the broader neighbourhood, indicating it is perceived as a good-value proposition within a desirable area.
This property would suit first-time buyers or downsizers looking for an entry point into a stable neighbourhood without a massive footprint to maintain. The renovated basement adds immediate livable space, making it move-in ready for those who appreciate a blend of original character and modern updates. It’s also a sensible candidate for a long-term holder who values the inherent worth of the land itself, viewing the existing structure as a comfortable starting point.
Frequently Asked Questions
1. How does the lot size compare to typical properties in Winnipeg?
At 5,263 sqft, the lot is significantly larger than average for Winnipeg, ranking in the top half of all properties in the city. This is a standout feature, offering more privacy and space for gardens, recreation, or additions than many modern lots.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, ceiling height, permits, or moisture control are not provided. This is a key point for a buyer to investigate further during a viewing or through their inspector.
3. The living area is 735 sqft. Is the home suitable for a family?
The above-ground living space is compact. Suitability for a family would depend heavily on the layout and the finished space in the renovated basement. It may be ideal for a small or starter family, or for those who prioritize lot size over interior square footage.
4. The home was last sold in 2016. What might this indicate?
A seven-year ownership period suggests the sellers were not short-term flippers, but rather residents who have likely invested in the property's upkeep, as evidenced by the basement renovation. It can indicate a stable ownership history.
5. How does the assessed value relate to the likely selling price?
The assessed value of $24,900 is for municipal tax purposes and is typically far below market value. The last sale was for $20,900 in 2016. The current market price will be determined by recent sales of comparable homes, buyer demand, and the condition of the property.