Property Summary: 587 Guilbault Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Archwood home presents a solid opportunity for buyers seeking a manageable, no-fuss property in a mature Winnipeg neighbourhood. Its key appeal lies in its balance of a generous, 4,146 sqft lot with a modestly sized and efficient 748 sqft living space, ideal for those looking to minimize upkeep without sacrificing outdoor room. A significant feature is the renovated basement, which adds valuable finished space and potential. Built in 1948, the home is notably older than many on its street and in the wider area, which may appeal to buyers charmed by classic character or seeing value in an established, tree-lined location.
The property suits first-time homeowners, downsizers, or practical investors looking for a lower-maintenance entry into a stable neighbourhood. Its assessed value is consistently in the top tier for the immediate area, suggesting it is well-regarded relative to its peers. The lot size is a standout—larger than over half the lots on the street—offering room for gardening, expansion, or simple enjoyment, which is a less obvious advantage in this price range. Buyers should be prepared for the realities of an older home but can appreciate the upside of a renovated lower level and a prime lot that ranks highly for its size city-wide.
Section 2: Frequently Asked Questions (FAQs)
1. How does the home’s size compare to others nearby?
At 748 sqft, the living area is compact and below the average for both the street and neighbourhood. This indicates a efficient, cozy layout, with the renovated basement providing additional functional space.
2. What does the "rank by year" data mean for this 1948 home?
The rankings show this home is older than approximately 82% of houses on Guilbault Street and 83% in Archwood. This isn’t uncommon for the area but means potential buyers should prioritize a thorough inspection to understand the condition of original components.
3. The lot is large, but how does it rank practically?
The 4,146 sqft lot is larger than 52% of lots on the street and ranks in the top 28% for size across all of Winnipeg. This is a significant asset, offering more private outdoor space than many comparable properties.
4. Why is the assessed value relatively high for the area?
With an assessed value higher than 76% of homes on its street, this suggests municipal assessment recognizes factors like its renovated basement, desirable lot size, or overall condition as adding value above neighbouring properties.
5. What can nearby sales history tell us?
A similar home next door at 584 Guilbault (larger, but built later) sold in 2019 for $280k, which was a mid-range price for the street at that time. This provides a historical benchmark, though current market conditions will be the primary price driver.