Property Overview: 46 Teakwood Avenue, Garden City, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1958, offering a practical and straightforward living space. With 944 square feet of living area, it is notably smaller than most homes in its immediate neighbourhood and across Winnipeg, positioning it as a more manageable and potentially affordable option. Its key features include a renovated basement and a detached garage. The lot size is just under 5,000 square feet, which is modest for the Garden City area but provides adequate outdoor space.
The appeal lies in its simplicity and value. The home's assessed value is consistently around the average for its street and wider area, suggesting it is priced appropriately within the market. Its recent sale history indicates stable value. This property would suit first-time buyers, downsizers, or investors looking for a lower-maintenance home without a premium lot size. It’s a home for those prioritizing function and location over square footage, offering a foothold in a well-established neighbourhood without the scale of a larger, more demanding property.
Frequently Asked Questions
1. Is the smaller living area a concern?
While the home is smaller than neighbourhood averages, this translates to lower utility costs, less maintenance, and easier upkeep. It's a trade-off that can be ideal for those seeking efficiency.
2. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. A professional inspection is recommended to determine the finish quality, legal compliance, and whether it adds functional living space or simply improved storage/utility areas.
3. How does the assessed value relate to the likely selling price?
The assessed value ($33.70k) is for municipal tax purposes and is typically far below market value. The historical sold price range from 2020 ($25.5k - $28.5k) is a more relevant, though outdated, benchmark. Current market conditions will determine the final price.
4. What are the implications of a detached garage?
A detached garage offers flexibility and can reduce noise transfer to the house. However, it may be less convenient during Winnipeg winters compared to an attached garage.
5. Is the property likely to need major updates?
Given its age (68 years), even with a renovated basement, prospective buyers should budget for potential updates to major aging systems like plumbing, electrical, or the roof, which are common for homes of this vintage.