Property Overview
This 1944 one-storey home in Archwood presents a compact, efficient living space on a generously sized lot. Its key appeal lies in the combination of a renovated basement and a land area that ranks in the top third for its street, offering future potential. The 662 sq ft living area is modest, placing it among the smaller homes in Winnipeg, which suggests a focus on low-maintenance, cost-effective living. The assessed value is steady and aligns with the local market.
This property would suit first-time buyers or downsizers looking for an affordable entry into a established neighbourhood without a major renovation project. It’s also a practical option for an investor seeking a manageable rental property. A less obvious angle is its appeal to those who value a larger outdoor space for gardening or expansion more than a large interior, and who are comfortable with a home whose historical character is defined more by its era and lot than by ornate original details.
Frequently Asked Questions
1. How does the small living area compare to the neighbourhood?
At 662 sq ft, the living space is below average for both the Archwood neighbourhood and Winnipeg overall, ranking in the bottom 15% locally. This indicates a truly compact main floor layout.
2. What does the "renovated basement" entail?
The listing confirms a renovated basement but does not specify the scope. A professional inspection is recommended to determine the quality of the renovation, its compliance with codes, and whether it adds legal living space.
3. Is the assessed value likely accurate?
The $250k assessment is close to the home's last sold price in 2019 ($222.5k) and sits near the median for the street. This suggests the valuation is a reliable, current benchmark for municipal taxes, though market value can differ.
4. What are the implications of having no garage?
The property has no garage. Buyers should consider the cost and feasibility of adding off-street parking or a storage shed, and assess on-street parking availability, especially in winter.
5. The lot is large, but what can I actually do with it?
The 3,299 sq ft lot is a significant asset. Potential uses could include creating an expansive garden, adding a substantial deck or patio, or future expansion of the home (subject to zoning bylaws and permits). The value here is in the optionality it provides.