527 St Catherine Street

Property Overview & Key Characteristics

This one-and-a-half storey home, built in 1940, is situated on a generous 3,298 sqft lot in Winnipeg's Archwood neighbourhood. With 933 sqft of living space, it presents a classic, compact footprint. Its key appeal lies in its established location, with the lot size ranking in the top 15% of the neighbourhood, offering ample outdoor potential. The home has an unrenovated basement and no garage. Recent market activity shows it sold for $23,500 in September 2021, closely aligning with its current assessed value.

This property would suit a first-time buyer, an investor, or a hands-on homeowner looking for a solid foundation in a mature area. Its value is primarily in the land and location rather than move-in-ready finishes, making it a candidate for those with renovation plans or who are comfortable with a project. A thoughtful perspective is that while the home itself ranks average in size for the street, the above-average lot provides a valuable asset for expansion, gardening, or simply more private outdoor space—a feature becoming increasingly prized.

Frequently Asked Questions

1. What does "one-and-a-half storey" typically mean for a home of this era?
It usually indicates a home where the second floor has sloped ceilings (following the roof line) and potentially smaller rooms, offering a cozy character distinct from a full two-storey layout.

2. The assessed value is $23,100, but it sold for $23,500 in 2021. What does this suggest?
This close alignment suggests the property's municipal assessment is relatively current with its recent market value. It indicates stability rather than dramatic, untested appreciation in the last few years.

3. The lot is larger than many in the area. What are the implications?
A larger lot in an established neighbourhood often provides better privacy, more landscaping options, and potential for future additions like a garage or deck, subject to local zoning bylaws.

4. The basement is noted as "not renovated." What should I expect?
You should anticipate a functional but unfinished space, likely with concrete floors and exposed foundations. It offers utility and storage but would require investment to become a finished living area.

5. There is no garage. What are the parking and storage options?
On-street parking is likely the standard here. The large lot does offer the potential to add a parking pad or garage in the future, which would be a significant value-add project for a new owner.