Property Overview & Key Characteristics
This one-and-a-half storey home in Archwood presents a classic Winnipeg post-war character, built in 1948 on a generous 4,043 sqft lot. Its key appeal lies in a balance of established neighbourhood charm and practical updates, most notably a renovated basement. With 901 sqft of living space and a detached garage, it offers a manageable footprint for a variety of lifestyles.
The home’s statistical profile reveals a nuanced position in the market. Its lot size ranks well above average for the street and city, offering valuable outdoor space potential, while the living area is comfortably mid-range for the area. A thoughtful perspective is that the 2019 sale price was notably high for the street at the time, which may indicate either a unique feature of this property or a particularly strong past market moment. The current assessed value aligns more closely with mid-range comparables in the wider community.
This property would suit first-time buyers looking for a move-in-ready character home without an overwhelming size, or downsizers seeking a manageable property with a renovated basement for extra living space or a potential income suite (subject to verification). It’s also a fit for value-oriented buyers who prioritize a larger lot in a stable neighbourhood over a brand-new build.
Frequently Asked Questions
1. What does a "renovated basement" typically include?
While the listing confirms the basement is renovated, specifics on finish quality, ceiling height, moisture control, and permitted work should be verified by a buyer's inspection and inquiries with the seller.
2. How does the 2019 sale price compare to today's value?
The home sold for $255,000 in March 2019, a price that was in the top 5% for the street at that time. The current assessed value is $271,000. Market conditions, property improvements, and specific sale circumstances all influence this change, and a current market evaluation is recommended.
3. Is the lot size a significant advantage?
Yes. At over 4,000 sqft, the lot is larger than 73% of properties in Winnipeg and ranks in the top 38% on its street. This provides more private outdoor space and potential for gardening, expansion, or additions compared to many older neighbourhood properties.
4. What is the neighbourhood character of Archwood?
Archwood is a mature, established neighbourhood with a mix of post-war homes. The provided comparable sales show a range of styles and values, indicating a diverse but stable area. The nearby reference properties suggest a streetscape of similar vintage homes.
5. Are the utility costs typical for a home of this age?
For a home built in 1948, heating and insulation efficiency are key considerations. The renovated basement may include some updates, but potential buyers should budget for utility costs consistent with an older home and inquire about any recent upgrades to windows, roofing, or the heating system.