Property Overview: 661 Archibald Street
Section 1: Key Characteristics & Appeal
This is a classic one-storey home in Winnipeg's Archwood neighbourhood, built in 1932. Its primary appeal lies in a combination of a very large lot and a solid, unrenovated foundation. The 3,374 sqft land parcel is notably spacious, ranking in the top 2% on its street, offering significant outdoor potential. The house itself, at 825 sqft, is compact and would suit a first-time buyer, downsizer, or an investor looking for a property with land value.
The home’s character is defined by what it is not: it’s not a modernized turn-key property. The basement exists but is noted as not renovated, presenting a clear opportunity for future expansion or improvement tailored to a new owner's needs. Recent sale history shows a significant jump in value between 2021 and 2023, suggesting the area is in demand. This property suits a practical buyer who sees value in the land and the solid, simple structure. It’s for someone comfortable with a project, whether that’s making gradual interior updates, maximizing the generous yard, or holding it as a long-term investment in a well-ranked Winnipeg location.
Section 2: Frequently Asked Questions
1. What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, with unfinished or dated spaces. It has utility but would require investment to modernize or finish as living space.
2. How does the large lot size benefit me?
Beyond simple outdoor space, a lot in the top 2% on the street offers rare potential for additions, gardening, or landscaping that wouldn't be possible on standard parcels. It's a key asset for future enjoyment or resale.
3. The living area is modest. Is expansion feasible?
The large lot and existing one-storey footprint create a practical scenario for a future side or rear extension, subject to zoning and permits. The unrenovated basement also offers a separate avenue for adding conditioned living space.
4. The assessed value seems low compared to recent sale prices. Why?
Municipal assessed value for tax purposes often lags behind market trends. The recent sale price is a more current indicator of the home's market value in today's conditions.
5. Who are the most likely neighbours or buyers for this street?
Given the mix of classic older homes and substantial lots, the street likely attracts a stable community of long-term residents, families valuing outdoor space, and practical homeowners interested in gradual improvement.