Property Overview & Appeal
This 1.5-storey home on a generous 5,238 sqft lot in Archwood presents a classic Winnipeg opportunity. Built in 1948, its key characteristics include a functional 1,056 sqft living space and an existing, unrenovated basement. The property lacks a garage or pool, placing the focus squarely on the house and its sizable lot.
The appeal lies in its balance of established neighbourhood character and clear potential. The lot size is well above average for the street and ranks in the top 8% within Archwood, offering valuable outdoor space or future expansion possibilities. While the home itself is modest in size, it sits in a desirable location, ranking highly for both lot size and living area within its immediate context. It suits a practical buyer—perhaps a first-time homeowner, an investor, or a downsizer—who values land over lavish finishes and sees the value in a property that can be shaped over time. The recent sale history suggests a steady, reasonable market value, making it a grounded entry into the market rather than a speculative project.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in original or functional condition, lacking modern finishes. It may be suited for storage, laundry, and utilities, with the potential for future development subject to inspections and permits.
2. How significant is the lot size here?
Very. At over 5,200 sqft, the lot is a standout feature, offering more private outdoor space than 92% of properties in Archwood. This provides room for gardens, play areas, or future additions like a garage or deck.
3. The assessed value seems low. Does that indicate a problem?
Not necessarily. Municipal assessments for older homes often lag behind market values and are primarily used for tax calculation. The more relevant figure is the recent sale price, which shows the market value established just a few years ago.
4. Who might this property not suit?
Buyers seeking a move-in-ready home with modern amenities, dedicated parking, or extensive finished space may find it lacking. It's best for those comfortable with a home that may require updates or who prioritize the land itself.
5. The rankings show the home is newer than 77% of Winnipeg homes. Is that an advantage?
It can be. A 1948 build, while not new, is post-war and may have construction methods and materials that are somewhat more standardized and easier to renovate or repair than much older, pre-1920s housing stock in the city.