Property Overview
This 780 sqft, one-storey home at 537 Archibald Street in Winnipeg's Dufresne neighbourhood presents a practical and value-oriented opportunity. Built in 1954, it sits on a generous 5,270 sqft lot and features a renovated basement and a detached garage. The home sold for $300,000 in June 2024.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of modest home size with a substantial lot, offering clear potential for expansion or outdoor use. While the living space is below average for the city, it is competitively sized for its immediate street and neighbourhood. A key, less obvious strength is its financial positioning: its assessed value is notably above average for both Archibald Street and the Dufresne area, suggesting it is viewed as a solid asset within its local context despite its smaller footprint. The renovated basement adds functional living space.
This home would suit first-time buyers or downsizers looking for a manageable property without compromising on yard space. It’s also a logical fit for a value-focused buyer or investor who sees potential in the disconnect between the home's current size and the possibilities offered by its larger-than-average neighbourhood lot. The above-local-average assessment indicates it may be a stable holding in its specific market.
Frequently Asked Questions
1. How does the sale price compare to the assessed value?
The home sold for $300,000 in June 2024, which is significantly higher than its $28,500 assessed value. It's important to remember that municipal assessed value for property tax purposes is not a market valuation and often lags behind actual sale prices.
2. Is the living space too small?
At 780 sqft, the main floor living area is compact. However, the data shows it ranks above many homes on the same street and in Dufresne. The renovated basement effectively increases the usable space, making it more functional than the square footage alone suggests.
3. What does the lot size offer?
The 5,270 sqft lot is a standout feature, ranking well above average for the Dufresne neighbourhood. This provides ample private outdoor space and is a key asset for future enjoyment, gardening, or potential expansion, subject to zoning.
4. How does it rank compared to other homes?
The home presents a mixed profile: its living area is below the city average but competitive locally, while its assessed value is strong for its immediate area. This indicates it may be a more premium property on its street compared to its size peers.
5. What is the significance of the "above average" assessed value ranking?
Ranking in the top 21-27% for assessed value on its street and in Dufresne suggests that, for tax purposes, this property is considered more valuable than many around it. This can reflect factors like its condition, renovations, or lot attributes, but does not directly predict its market sale price.