Property Overview
This one-and-a-half storey home on a spacious lot in Archwood presents a practical opportunity with a solid foundation. Its appeal lies in the combination of a renovated basement, a detached garage, and a larger-than-average lot for the area, offering room to grow. The home suits first-time buyers looking for a manageable, character home to build equity in, or value-focused investors seeking a property with strong rental fundamentals in a stable neighbourhood. A thoughtful perspective is that while the living area is compact, the high ranking for lot size within Winnipeg suggests future potential, whether for expansion, gardening, or simply enjoying more outdoor space than is typical. Its assessed value is notably higher than its last sale price in 2016, indicating steady market appreciation.
Key Details & Questions
- Key Characteristics: Built in 1948, featuring 888 sqft of living space on a 4,825 sqft lot. The property includes a renovated basement and a detached garage.
- Neighbourhood Context: Located in Archwood, the property's lot size ranks in the top 13% of the neighbourhood, a significant advantage. Its assessed value sits near the neighbourhood median.
- Who It Suits: Ideal for first-time homebuyers or practical investors looking for a property with a renovated basement and outdoor space potential in a well-established area.
Frequently Asked Questions
1. How does this property compare to others on the street and in Archwood?
The home's most standout feature is its lot size, which is larger than 87% of properties in Archwood. While the living space is near the neighbourhood average, the generous lot offers a relative rarity for the area.
2. What is the significance of the assessed value versus the 2016 sale price?
The assessed value of $26.40k is approximately 11% higher than the 2016 sale price of $23.80k. This suggests a trend of increased value over the past several years, in line with market movements.
3. Is the living space sufficient for a small family?
At 888 sqft, the living area is compact. The renovated basement provides crucial additional flexible space, making it a functional option for a small or starter family, with the lot offering room for children to play.
4. What are the implications of the "one-and-a-half storey" design?
This classic Winnipeg style often features main-floor living areas and bedrooms, with a smaller, possibly cozier upper level. It adds character but may have sloped ceilings or unique layouts in the upper half-storey.
5. What is the immediate neighbourhood like based on nearby properties?
The listing shows several nearby homes on the same street and block, indicating a dense, established streetscape typical of mature Winnipeg neighbourhoods, which often fosters a strong sense of community.