1 Peony Avenue

Property Overview: 1 Peony Avenue, Garden City, Winnipeg

Key Characteristics & Appeal

This one-storey bungalow, built in 1961, sits on a spacious 5,499 sqft lot in Winnipeg's Garden City neighborhood. With 1,113 sqft of living space and a renovated basement, it offers a practical, single-level layout. The home's standout characteristic is its value proposition: its assessed value is notably below average for its immediate street and neighborhood, yet it sits on a lot size that is above average for Peony Avenue. This creates an interesting dynamic where the land may hold more inherent value than the current structure suggests.

Its appeal lies in its potential and practicality. The renovated basement adds immediate livable space, making it suitable for those needing a guest area, home office, or recreational room. The generous lot size for the area is a significant asset, offering room for gardening, play, or future expansion. This property would suit first-time buyers, downsizers looking for a manageable single-level home, or value-oriented investors who see potential in the lot size and the below-average assessment relative to the area. It’s a home that offers a solid foundation in a established community without a premium price tag.

Frequently Asked Questions

1. Why is the assessed value so much lower than neighboring homes?
The assessed value is below the average for both Peony Avenue and the wider Garden City area. This typically reflects the home's older structure, modest size, and the fact that assessment models weigh recent renovations (like the basement) differently than original builds. It can indicate a purchase opportunity.

2. What does the "renovated basement" entail?
The listing specifies a renovated basement, which generally means it is finished as livable space. For precise details on the quality, permits, and nature of the renovation (e.g., moisture control, ceiling height, legal egress), a viewing and inquiry with the seller or their agent is necessary.

3. Is the large lot a major advantage?
Yes, especially on this street. The lot is larger than most on Peony Avenue, providing more outdoor privacy and space than you might expect. This is a less obvious perk that adds long-term value and utility, whether for personal use or future property improvements.

4. How does living area compare to nearby homes?
At 1,113 sqft, the living area is slightly below the average for Garden City but is quite typical for Peony Avenue itself. It represents a comfortable size for a bungalow, with the renovated basement effectively adding to the total usable space.

5. Where can I find the exact historical sale price?
The listed sale price range is based on public data. To obtain the exact sale price from its last transaction in April 2023, you can use the email request service provided on the listing page. They provide this data manually without using your email for marketing.