Property Overview & Key Characteristics
This 1989 bi-level home at 544 Tremblay Street in Winnipeg's Archwood neighbourhood presents a compelling blend of space, location, and value. Its primary appeal lies in its generous 2,905 sqft lot, which ranks in the top 3% on its street and top 1% within Archwood, offering significant outdoor space for a property of this type. The home itself features a renovated basement, adding to its functional living space, though the main living area is a modest 744 sqft.
The property is ideally suited for first-time buyers, downsizers, or value-focused investors seeking a home in a well-regarded neighbourhood without a premium price tag. Its strong lot size-to-price ratio is a key draw for those prioritizing outdoor potential over a large interior footprint. The recent sale history shows steady appreciation, and its current assessed value is competitive within the wider Winnipeg market. A thoughtful perspective is that this home represents an entry point into a top-tier neighbourhood lot, where the land itself holds substantial long-term value, offering future potential for expansion or landscaping that a smaller lot could not.
Frequently Asked Questions
1. How does the lot size compare to typical properties in Winnipeg?
The lot is 2,905 sqft, which places it in the top 9% of all properties in Winnipeg for size, making it a standout feature for this home.
2. What is the significance of the "renovated basement" in a bi-level?
In a bi-level, the lower level is a primary living space, not just a cellar. A renovated basement here effectively means that a significant portion of the home's total functional area has been updated and is move-in ready.
3. The home sold for $300k in 2021. What does the $290k assessed value indicate?
The assessed value is very close to its recent sale price, suggesting the city's assessment aligns with recent market activity. It can provide a benchmark for municipal taxes, but the final market price is determined by current buyer demand.
4. The living area is 744 sqft. Is the home small for a family?
As a bi-level with a renovated lower level, the total usable space is greater than the main floor square footage alone. It may suit a small family or couple comfortably, but those needing multiple large bedrooms or open-concept main-floor living should view the layout in person.
5. The year built (1989) ranks lower on the street. Is that a concern?
While older homes exist on the street, a 1989 build is still relatively modern, likely meaning fewer concerns with antiquated wiring or plumbing found in much older century homes. It represents a balance between established character and more contemporary construction standards.