Property Overview

This 1935-built, one-storey home in Winnipeg's Archwood neighbourhood presents a compact and efficient living space on a generously sized lot. Its primary appeal lies in the combination of a renovated basement, a land area that is larger than most in the city, and a very low municipal assessed value, suggesting a potentially manageable property tax burden. The home suits first-time buyers, downsizers, or investors looking for a straightforward, low-maintenance property with room to grow or add value over time. Its smaller living area (664 sq ft) prioritizes a cozy, efficient footprint over spaciousness, making it ideal for those who value a large yard or garden more than interior square footage.

A few less obvious points to consider: the property ranks highly for its lot size within Winnipeg (top 17%), which is a fixed asset with long-term value, especially in a mature neighbourhood. While the home itself is older, its assessed value is in the top tier for the city (top 14%), indicating the city views the overall property package favorably compared to many others. The recent 2021 sale price was very close to the current assessment, suggesting a stable and transparent value history.

Frequently Asked Questions

1. What does "renovated basement" typically mean for a home of this era?
It usually indicates foundational upgrades like modernized insulation, moisture protection, and finished surfaces. Given the home's age, a renovation likely addressed core functionality and livability, but specifics on permits, ceiling height, and egress should be verified.

2. With no garage, what are the parking options?
The property likely relies on street parking or a potential driveway (which would be a valuable addition). Checking local bylaws for street parking permits and observing typical neighbour setups would be advisable.

3. The living area is modest. Is there potential to expand?
The large lot (3,299 sq ft) is the key asset here. Subject to zoning and permit approvals, there is a clear possibility for a lateral addition or a more substantial backyard development than would be possible on a standard city lot.

4. How significant are the high percentile rankings for lot size and assessed value?
They show the property's strengths in a city-wide context. A top 17% lot size means more outdoor space than most Winnipeg homes, and a top 14% assessed value suggests a proportionally lower tax rate relative to the city's average, which is a financial advantage.

5. The home last sold in 2021. What does that recent activity indicate?
A sale just a few years ago suggests the current market price is likely informed by relatively modern data, providing a clearer benchmark than a decades-old sale. It may also indicate recent updates or a motivated seller timeline.