Property Summary: 562 Cusson Street, Winnipeg
Section 1: Overview & Appeal
This one-and-a-half storey home in Archwood presents a solid, no-frills opportunity. Built in 1948, it sits on a generously sized lot (over 4,100 sq ft) that ranks well above average for the street and city. The home itself has a modest living area of just over 1,000 sq ft and includes a basement, though it is noted as not being renovated. There is no garage or pool.
The primary appeal lies in its value as a land play or a straightforward renovation project. The lot size is a significant asset, offering potential for expansion, gardening, or simply more outdoor space than is typical. Its recent sale price of $290k, significantly above its assessed value, suggests the market recognizes this underlying potential. The home would suit a practical buyer—perhaps a first-time homeowner comfortable with gradual updates, an investor looking for a property with good lot value in a stable neighbourhood, or someone seeking a manageable footprint without the premium of a fully modernized home. Its above-average rankings for lot size and newer build year (for its area) offer a less obvious confidence in its foundational assets compared to immediate neighbours.
Section 2: Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement remains in a largely original or utilitarian state. Buyers should budget for potential updates to flooring, lighting, and finishes, and should prioritize a thorough inspection for moisture and foundational integrity.
2. How significant is the lot size?
At over 4,100 sq ft, the lot is a key feature. It is larger than approximately 75% of lots on Cusson Street and 69% in Archwood, providing valuable outdoor space and future possibilities that are increasingly rare.
3. Why was the recent sale price so much higher than the assessed value?
Municipal assessed value is for taxation purposes and often lags behind market value. The sale price reflects what a buyer recently paid, likely factoring in the desirable lot size, neighbourhood demand, and the home's overall condition and potential.
4. Who might this property not suit?
It may not suit buyers seeking a move-in-ready home with modern finishes, those requiring garage parking, or anyone unwilling to take on a property where the basement and overall condition may require investment.
5. What can the "rankings" tell me?
These percentile rankings compare this property to others on its street, in Archwood, and across Winnipeg. They highlight that this home's lot size and newer build year (for the area) are relative strengths, while its living space is comfortably mid-range for the locale.