Property Overview
This one-storey home on a large 5,000+ sqft lot in Garden City presents a distinct opportunity. Built in 1916, its key appeal lies in the land itself and its value position within a mature neighbourhood. The house is modest at 666 sqft with an unrenovated basement and a detached garage. Its standout characteristic is how it ranks against nearby properties: it sits in the top tier of Garden City for lot size but is among the oldest and smallest homes in the immediate area. This creates a unique profile—a property with clear limitations in the existing structure, but with underlying value derived from its generous lot in an established community.
It would suit a specific buyer: someone looking for a land-play, a long-term renovation project, or an entry point into a stable neighbourhood where the primary investment is in the property's potential rather than its current condition. It is less suited to those seeking move-in readiness or ample interior space from the outset.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Garden City, and across Winnipeg. For example, its lot size is in the top 6% of the neighbourhood, meaning it's larger than most. Conversely, its living area is in the bottom 1%, confirming it's one of the smallest houses around. This highlights the property's defining contrast: a large lot with a very small, older home.
2. Is the low assessed value a red flag?
Not necessarily. The assessed value of $23,800 is primarily for municipal tax purposes and reflects the home's age, size, and condition. It indicates the current structure adds minimal value, which is consistent with a home needing updates. The market price will be influenced more by the lot value and renovation potential.
3. Who would be interested in a home of this age and size?
Beyond investors or builders, it could appeal to a minimalist buyer or someone looking to build equity slowly through sweat equity. The small footprint means lower utility costs and less maintenance in the short term, while the large lot offers room for gardens, expansion, or future outdoor living space.
4. The home sold in late 2021. What might that suggest?
The previous sale at $20,100, close to the current assessed value, suggests it was likely a transaction based on land value or a non-arms-length sale. It indicates the property has been seen as a foundational asset rather than a conventional home for some time.
5. How do the "Worth Viewing" comparisons help me?
The listed comparable properties, like those on Daffodil or Bluebell, are mostly larger, newer homes from the 1950s with higher assessed values. This reinforces that 15 Pearce Avenue is a different type of property within the same neighbourhood—an older, more compact alternative that comes at a proportionally lower value point, offering a different kind of opportunity.