Property Overview
31 Teakwood Avenue is a classic one-storey home in Winnipeg's Garden City neighbourhood. Built in 1959, it sits on a 5,250 sqft lot and features 1,211 sqft of living space, a detached garage, and a basement that is functional but not renovated.
Key Characteristics & Appeal
This home’s primary appeal lies in its solid foundation and spacious lot within a well-established area. The living area is notably above average for Teakwood Avenue itself, offering more interior space than many direct neighbours. The lot size is also generous for the street, providing good outdoor potential. However, the property presents a clear value proposition: its assessed value is below the Garden City average, suggesting it may be priced accessibly relative to the broader neighbourhood. This creates an opportunity for buyers comfortable with a home that has maintained its original, functional state. The detached garage and basement add practical utility.
It would suit a first-time buyer, an investor, or a hands-on owner looking for a character home in a mature neighbourhood without a premium price tag. It’s a property for someone who values space and location over modern finishes, seeing the basement and overall condition not as drawbacks, but as a blank canvas for future updates tailored to their own needs and timeline.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is not renovated. It is a functional, unfinished space that provides ample storage or potential for future development.
2. How does the property compare in size to others nearby?
The home’s living area (1,211 sqft) is larger than most on its own street, ranking in the top 17% of 81 comparable properties on Teakwood Avenue.
3. What is the typical lot size in Garden City, and how does this one compare?
The average lot in Garden City is about 6,278 sqft. This property’s 5,250 sqft lot is smaller than that neighbourhood average but is actually above average for lots specifically on Teakwood Avenue.
4. Why is the assessed value considered below average for Garden City?
The home’s assessed value ranks in the top 90% for the neighbourhood, meaning about 90% of homes have a higher assessed value. This often reflects the home’s original condition and unrenovated state compared to updated homes in the area.
5. Can I get the exact historical sale price?
Exact sold prices are not published publicly. The listing service provides an estimated range, but you can request the precise sale history by emailing them directly for a manual, prompt reply.