Property Overview

This 1921 one-storey home in Archwood presents a straightforward opportunity. Its key appeal lies in its solid, unrenovated condition on a good-sized lot, offering a clear canvas. At 640 sqft of living space, it is a compact home, ranking surprisingly high in size compared to many Winnipeg properties, suggesting efficient use of space. The detached garage and full (though unrenovated) basement add practical value. The lot is notably larger than most on the street, and the home's age ranks as newer than the vast majority in both the neighbourhood and city, indicating a potentially more durable structure for its era.

Its strongest suit is for a specific buyer: someone seeking an affordable entry into a mature neighbourhood who views the property primarily as land value with a liveable structure. It’s a pragmatic choice for an investor, a hands-on first-time buyer ready for gradual updates, or someone looking to build equity through sweat equity. The very low historical sale price from 2016 highlights its potential as a value-purchase. A less obvious perspective is its appeal to those wanting minimal interior upkeep; an unrenovated space means no recent shortcuts in renovations are hiding, and any improvements can be done to the owner's own standard from the ground up.

Frequently Asked Questions

1. What does "unrenovated basement" typically mean?
It means the basement is functional and included in the living space, but it has not been modernized or finished with contemporary materials. It likely has original or basic flooring, walls, and lighting, presenting a blank slate for future development.

2. The living area is 640 sqft. How livable is that for a small family or couple?
It is compact, requiring efficient furniture layouts and minimal possessions. It would suit a single person, a couple, or a small family comfortable with close quarters. The unrenovated basement does offer additional raw space for storage or future expansion.

3. The assessed value is $20,900, but what will it likely sell for?
Assessed value is for municipal tax purposes and is often significantly lower than market value. The sale price will be determined by current market conditions, demand for the area, and the property's condition. Reviewing recent sale prices of similar homes in Archwood is essential.

4. The home is over 100 years old. What should I be concerned about?
While the ranking shows it's newer than most in the area, key concerns for any century-old home include the condition of the foundation, roof, plumbing, electrical systems, and insulation. A thorough home inspection is non-negotiable.

5. The lot is larger than most on the street. What are the advantages?
A larger lot provides more outdoor space for gardening, recreation, or storage. It also may offer better potential for future additions, like an extension or a larger garage, subject to local zoning bylaws. It generally contributes to the property's long-term value.