Property Overview: 30 Teakwood Avenue, Garden City, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Garden City is a practical and renovated property built in 1959. Its key features include a renovated basement and a detached garage. With 1,000 sqft of living space and a 4,738 sqft lot, it sits below the neighbourhood averages for size, positioning it as a more manageable and potentially affordable option within the area.
The appeal lies in its solid fundamentals and recent updates. The renovated basement adds valuable finished space, while the home’s assessed value is around average for the street and city, suggesting a stable valuation. Its lot size, though smaller than many in Garden City, is still generous by wider city standards and offers low-maintenance potential. This property would best suit first-time buyers, downsizers, or practical investors looking for a turnkey home in a established neighbourhood without the upkeep of a larger property. It represents an entry point into a community where many homes are larger and older, offering a balance of renovation work already completed and a classic neighbourhood feel.
Section 2: Frequently Asked Questions
1. How does the property’s size compare to the area?
The living area is 1,000 sqft, which is below the average for both Garden City and Winnipeg overall. This makes it a more compact home, which can mean lower utility costs and less maintenance, but may require efficient use of space.
2. What is the significance of the assessed value?
The assessed value of $32,600 is around the average for Teakwood Avenue and citywide. This indicates the property is not overvalued relative to its immediate surroundings, which can be a positive sign for stability, though market conditions ultimately determine the sale price.
3. Has the basement renovation been permitted?
The listing notes a renovated basement, but it does not specify if the work was permitted. A buyer should verify this with the seller and, if necessary, the city to ensure all renovations meet current building codes.
4. What is the typical price trend for this home?
Based on available data, the home sold in the $245k-$275k range in early 2019 and in the $265k-$295k range in late 2020. This indicates modest appreciation over that period, but more recent market trends should be consulted.
5. What are the implications of the smaller lot size?
At 4,738 sqft, the lot is smaller than many in Garden City but is close to the citywide average. This could mean less yard maintenance and lower property taxes tied to land value, but also less private outdoor space than some neighbouring properties.