Property Overview: 753 Garwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home, built in 2017, stands out in the established Earl Grey neighbourhood for its modern construction. Its key appeal lies in offering a move-in-ready, low-maintenance property without the typical concerns of an older home. With 1,307 sqft of living space and a renovated basement, it provides comfortable, contemporary living on a manageable scale.
The home’s strongest asset is its exceptional positioning relative to its peers. It ranks in the top tiers for assessed value, year built, and living area when compared to other homes on its street and in Earl Grey. This suggests a premium, well-regarded property within a desirable local context. It particularly suits buyers seeking a modern home in a mature neighbourhood without undertaking renovations, or those who value newer infrastructure and systems. The smaller, 2,462 sqft lot is a trade-off, ideal for owners who prefer less yard upkeep but may not suit those desiring extensive outdoor space.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home sold for $48.50k in August 2024, which is slightly below its current assessed value of $50.20k. This close alignment suggests the assessment and sale price reflect a stable, agreed-upon market value.
2. What does the "Elite" ranking for its year built mean?
Built in 2017, this home is newer than approximately 95-97% of comparable properties on its street, in Earl Grey, and citywide. In a neighbourhood and city with many heritage homes, this modern age is a significant rarity and advantage.
3. Is the living space sufficient for a family?
At 1,307 sqft, it is above average for Garwood Avenue and Earl Grey. It offers a practical footprint for a small to medium-sized family, especially when combined with the additional finished space in the renovated basement.
4. What are the implications of the smaller lot size?
The lot is below average in size for the area, which means less private outdoor space and potentially less distance from neighbours. However, this also translates to reduced maintenance for gardening and yard work, which can be a benefit for busy professionals or those seeking a lock-and-leave lifestyle.
5. How does this property fit within the local market?
The data indicates this is a premium, modern property within its immediate micro-market (Garwood Avenue and Earl Grey). Buyers are paying a relative premium for the newness and condition compared to the neighbourhood's typically older housing stock, as evidenced by its high assessed value ranking.