Property Overview & Key Characteristics

This one and three-quarter storey home in Archwood presents a classic Winnipeg character property with solid fundamentals. Built in 1923, it sits on a notably large lot (3,299 sq ft) that ranks within the top tier for the neighbourhood, offering valuable outdoor space and potential. The home itself has a modest living area of 1,010 sq ft and features a detached garage and an unrenovated basement. Its recent sale price aligns closely with its assessed value, suggesting a stable, market-supported valuation.

The primary appeal lies in its land value, established location, and the opportunity it represents. It suits a practical buyer looking for a foothold in a mature neighbourhood—perhaps a first-time homeowner comfortable with a property that may require updates over time, or an investor seeking a character home with a sizable lot. Its unrenovated state means the next owner can tailor improvements to their own taste without paying a premium for someone else’s renovations. A less obvious perspective is the advantage of its older construction year; while it implies a need for maintenance, it also often means better-quality materials and craftsmanship than some newer builds, situated on a generous, established lot that is increasingly rare.

Frequently Asked Questions

1. What does "one and three-quarter storey" mean for this home?
This is a common Winnipeg architectural style, typically featuring a full main floor and a second floor where the roofline slopes inward, creating some rooms with sloped ceilings or slightly reduced square footage on the upper level, adding to its character.

2. How does the lot size compare to others in the area?
The 3,299 sq ft lot is a key feature, ranking in the top 27% for the Archwood neighbourhood. This is significantly larger than many nearby properties, offering more private outdoor space and potential for gardening, expansion, or additions, subject to local bylaws.

3. The basement is noted as "not renovated." What should I expect?
You should anticipate a functional but unfinished space. It likely has foundational plumbing and electrical systems but lacks modern finishes. This presents both a blank canvas for future development and a clear area for immediate inspection regarding moisture control, insulation, and structural integrity.

4. The home sold very recently. Why is it back on the market?
While the specific reason isn't provided here, common scenarios include a buyer's financing falling through, a change in personal circumstances for the purchaser, or an investor flipping the property. It’s a question best directed to the listing agent, and the close alignment between the recent sale price and current asking price can indicate a stable, non-speculative relisting.

5. How does the assessed value relate to the likely selling price?
The assessed value ($21.80k) is for municipal tax purposes and is typically much lower than market value. The recent sale price ($23.10k) is a far more accurate indicator of its current market value, showing the home trades at a level consistent with similar properties in its valuation bracket.