Property Overview
20 Garnet Bay is a well-maintained, one-storey home built in 1955, situated on a generous 6,844 sqft lot in Winnipeg's Crescent Park neighborhood. Its key appeal lies in its balanced, above-average positioning within its immediate area. The home features 1,348 sqft of living space, which is notably above the average for Garnet Bay itself, and a renovated basement. A detached garage completes the property.
This home would suit a buyer looking for a solid, established property in a quiet neighborhood, offering more interior space than many on its street. It's ideal for those who value a larger lot by city-wide standards and prefer the manageable layout of a single-storey home. The renovated basement adds functional living space, making it a practical choice for small families, downsizers, or first-time buyers seeking a move-in-ready character home without the premium of a newer build. Its assessed value ranks highly on its street, suggesting it is a well-regarded property in its micro-market.
Frequently Asked Questions
How does this home compare in size to others nearby?
At 1,348 sqft, the living area is above the average for homes on Garnet Bay itself, offering more interior space than most direct neighbors. It is very close to the city-wide average for comparable homes.
Is the lot size a significant feature?
Yes. While the lot is around average for the Crescent Park area, it ranks in the top 18% city-wide. This means you get more outdoor space than most properties across Winnipeg, which is a valuable and less replaceable asset.
What does the "above average" assessed value on the street indicate?
A high assessed value rank on its own street often reflects a combination of the property's condition, improvements (like the renovated basement), and its specific location on the block. It suggests the property is considered one of the more valuable homes on Garnet Bay.
The home was built in 1955. What should I consider?
While the home is older, it is actually newer than the average for the broader Crescent Park area. Buyers should prioritize a thorough inspection typical for a home of this age, paying special attention to major systems like plumbing, electrical, and the foundation, which may be original or partially updated.
Why is there a significant difference between the last sale price and the current assessed value?
The home last sold in March 2017 for $371,000. The current assessed value is $429,000. This increase reflects market appreciation over seven years and likely accounts for the value added by the basement renovation. It is important to note that assessed value is for taxation purposes; a professional appraisal or market evaluation will determine its current market value.