Property Overview
16 Payne Street is a well-maintained one-storey home in Winnipeg's Garden City neighbourhood. Built in 1959, it offers 1,197 sqft of living space and sits on a generous 6,149 sqft lot. Key features include a renovated basement and a detached garage. Its assessed value is positioned around the average for its street and the wider city, but is notably below average for the Garden City area itself, which may present a value opportunity.
Section 1: Key Characteristics & Appeal
The primary appeal of this home lies in its balanced combination of space, lot size, and updates. The living area is notably above average for Payne Street, providing more interior room than most immediate neighbours. The renovated basement adds functional, modernized space. The lot size is a significant asset, ranking well above average both on its street and city-wide, offering ample outdoor potential.
This property would suit practical buyers looking for a solid, single-level home in a established neighbourhood. It’s ideal for someone who values a larger yard for gardening, children, or pets, and appreciates having the major update of a finished basement already completed. The detached garage is a plus for hobbyists or those needing extra storage. The data suggests it represents a sensible value proposition within Garden City, potentially offering more house and land for the dollar compared to area averages.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to likely market value?
While the assessed value is around $33.1k, it's crucial to note this is for taxation purposes. Market value is determined by recent sales. The home's last recorded sale was in 2016 for between $27.5k and $30.5k. Current value would be influenced by the renovated basement, the desirable lot size, and broader market conditions.
2. What does the "below average" assessed value for Garden City indicate?
This statistic means this home's tax assessment is lower than about 75% of comparable properties in Garden City. This doesn't necessarily mean the home is inferior; it can sometimes reflect a slower pace of assessment updates relative to market improvements or simply a different valuation approach. It can, however, suggest a potentially attractive entry point into the neighbourhood.
3. Is the 1959 build date a concern?
The home is one of the newer builds on Payne Street. While any home of this age will require ongoing maintenance, its year of construction is actually above average for the immediate area, meaning core components may be relatively younger than those of many neighbours.
4. What are the implications of such a large lot?
A lot size over 6,000 sqft provides valuable outdoor space and future potential. It offers privacy, room for additions like a deck or shed, and is a long-term asset in a city where lot sizes on newer homes are typically smaller. It's important to check municipal bylaws for any plans regarding additions or secondary suites.
5. Where can I find exact historical sale prices?
The provided sale history shows estimated ranges. To obtain the exact sale prices from the available transaction records, you must request them directly via the email prompt on the listing page. The service provides these figures manually at no cost and does not use the request for marketing purposes.