Property Overview & Key Characteristics
This 1944-built, one-storey home in Archwood presents a compact, no-frills living space of 576 square feet on a generous, nearly 3,900 sqft lot. Its primary appeal lies in its foundational potential. The home itself is modest and unrenovated, including the basement, making it a clear candidate for a full-scale renovation or a future rebuild. The significant lot size, which ranks in the top quarter for Winnipeg, is the standout feature, offering ample outdoor space and long-term possibilities that are rare for the price point.
It would best suit a specific type of buyer: a handy investor or homeowner looking for a value-entry into the neighbourhood with the vision, budget, and patience for a major project. It’s a property bought for its land and shell, not for move-in-ready condition. A less obvious perspective is its potential appeal to multi-generational families planning a future custom build, as the lot could accommodate a more substantial dwelling. Given its size and condition, it is not well-suited for those seeking a turnkey home or who cannot undertake significant renovations.
Frequently Asked Questions
1. Is this a teardown property?
While not explicitly marketed as such, the home's very small size, unrenovated state, and age suggest it is primarily valued for its land. A full renovation is feasible, but many buyers will consider the cost and effort relative to starting anew.
2. What does the "top %" ranking mean for the lot size?
The lot is 3,898 sqft, which is larger than 76% of all residential lots in Winnipeg. This means you are getting a notably larger-than-average parcel of land for the city, which is a key asset of this property.
3. The assessed value seems low. Why?
The assessed value of $21,400 is for municipal tax purposes and reflects the property's current state and use. It is not a market valuation. The price is set by the seller based on market conditions, with the lot's development potential being a major factor.
4. Who is responsible for verifying redevelopment potential?
The buyer. It is crucial to conduct independent due diligence with the City of Winnipeg regarding zoning bylaws, setback requirements, heritage designations (if any), and permits needed for any major renovation or new construction.
5. The last sale was in 2017 for $15,500. What does that indicate?
That sale price, significantly below the current assessed value, confirms the property has been a long-term investment or held for its land value. It underscores the consistent perception of the property as a development opportunity rather than a conventional home.