Property Overview: 522 Tremblay Street, Archwood, Winnipeg

Key Characteristics & Appeal

This is a well-situated, classic one-storey home in the established Archwood neighbourhood. Built in 1943, it sits on a generous, nearly 3,900 sqft lot, which is notably larger than many in Winnipeg. The home itself is compact at 864 sqft, but features a renovated basement, adding valuable functional space. A detached garage provides practical storage or workshop potential.

Its primary appeal lies in its solid fundamentals within a mature community. The lot size is a standout, offering room for gardening, play, or future expansion. The home’s assessed value ranks highly compared to most on its street and in the city, suggesting it is a well-regarded asset in its category. It suits first-time buyers seeking an entry point into a stable neighbourhood, downsizers looking for a manageable footprint with a desirable yard, or investors interested in a property with strong land value and rental potential through its developed basement.

A less obvious perspective is that this property represents a "blank canvas" within a secure framework. While updated, it allows new owners to imprint their style without the pressure of immediate major repairs. Its ranking metrics indicate it’s a property that has kept pace with or exceeded area norms, offering a sense of security rather than a speculative gamble.

Frequently Asked Questions

1. What does the ranking data (e.g., "Top 24% in Winnipeg") actually mean?
This means the specific feature (like lot area or assessed value) for this property is higher or better than the percentage shown of all comparable Winnipeg properties. For example, its lot size is larger than 76% of residential lots in the city, a significant advantage.

2. Is the living space too small?
At 864 sqft for the main floor, the living area is efficient. The renovated basement effectively doubles the usable space, making the overall footprint practical for small families, couples, or individuals. The generous lot also extends the living area outdoors in warmer months.

3. How does the 2019 sale price compare to the current assessment?
The home sold for $26,900 in March 2019. Its current assessed value is $28,800. This indicates stable, modest growth in line with market trends, not volatile speculation, which can be a positive for long-term stability.

4. What are the implications of a detached garage?
A detached garage offers flexibility—it can be a workshop, studio, or storage space without impacting the home's living environment. However, it requires going outdoors to access, which is a consideration during Winnipeg winters.

5. Who might this property not suit?
It may not suit buyers seeking a modern, open-concept layout or extensive main-floor square footage without undertaking significant renovations. It’s also less ideal for those who prioritize a brand-new home or an attached garage for direct vehicle access.