Property Overview: 634 Garwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Earl Grey presents a classic Winnipeg character property built in 1925. With 1,190 sqft of living space and a 3,436 sqft lot, its size is notably above average for its immediate street and aligns with the neighbourhood standard. It features a detached garage and a full, unrenovated basement offering potential.
The primary appeal lies in its solid, established location and a house that offers a blank canvas. Its assessed value and recent sale price position it as a practical entry point into the desirable Earl Grey area. The data suggests you are paying predominantly for location and lot, with the home itself representing a value-oriented project. This property would suit a pragmatic first-time buyer comfortable with gradual updates, or an investor looking for a stable, rentable asset in a perennial neighbourhood. It’s less about immediate modern luxury and more about securing a foothold in a community with the understanding that future equity can be built through thoughtful improvements.
Section 2: Frequently Asked Questions
1. What does the "above average" living area ranking mean for this street?
It means that among similar homes on Garwood Avenue, this house's interior space (1,190 sqft) is larger than about 70% of them. This is a relative strength compared to its direct neighbours.
2. The basement is noted as "not renovated." What should I expect?
This indicates the basement is in original or functional condition, not updated to modern finishes. It provides usable space for storage, laundry, or mechanicals, but any finished living area would likely require investment. View it as raw potential rather than a completed living space.
3. How does the 2024 sale price relate to the assessed value?
The home sold for $34.50k more than its $32.90k assessed value. This is common in active markets, where sale prices can exceed the municipal assessment, which is used for tax purposes and may lag behind current market values.
4. The lot size is "below average" citywide. Is that a concern?
Not for the neighbourhood. While the lot is smaller than the Winnipeg average, it is completely typical for Earl Grey. The lot is actually slightly larger than the area average, offering standard outdoor space for this mature, inner-city community.
5. The home is over 100 years old. What are the implications?
This is characteristic of Earl Grey. It means charm and established trees, but also necessitates a thorough inspection for aging components like the roof, wiring, and plumbing. Budgeting for maintenance and updates is a standard part of owning a century home.