Property Overview: 47 Forest Park Drive, Garden City, Winnipeg
Key Characteristics & Appeal
This two-storey home on Forest Park Drive is a standout property defined by its generous scale and established setting. Its primary appeal lies in offering substantial space—both inside and out—within a mature, sought-after neighbourhood. With 2,762 sqft of living area, the home ranks in the top 10% on its street and the top 1% within Garden City for size, making it a notably spacious offering. This is complemented by a large, 8,593 sqft lot that places in the top 4% of the area, providing ample outdoor privacy and potential. A renovated basement and an attached garage add to its functional appeal.
The home’s value proposition is underscored by its elite standing in the local context. While its 1965 build date is typical for the area, the property’s assessed value of $550k ranks in the top 1% of Garden City, indicating a premium valuation relative to its immediate peers. This suggests a home that has been well-maintained or upgraded, situated on a desirable street. It would best suit buyers looking for established character and room to grow without venturing into new subdivisions, particularly families or those who value larger interior spaces and a sizable yard over a brand-new build. It represents a chance to own a home that is significantly above average for its community in terms of footprint and lot size.
Frequently Asked Questions
1. How does this home’s value compare to the rest of Winnipeg?
While elite within Garden City, the assessed value ranks above average (top 13%) city-wide. This highlights Garden City as a relatively affordable area for a home of this size, offering more space for the investment compared to many other Winnipeg neighbourhoods.
2. Is the sold price history from 2019 relevant today?
The last known sale was in mid-2019. While it provides a historical benchmark, market conditions have changed. The current assessed value offers a more contemporary, though not market-based, valuation point for consideration.
3. What does the "renovated basement" include?
The listing notes a renovated basement but does not specify the scope. This would be a key point of inquiry to understand the finish quality, layout, and whether it includes legal secondary suite potential, which would significantly impact utility and value.
4. Why is the lot size a significant feature?
At over 8,500 sqft, the lot is substantially larger than the average for both the street and Garden City. This not only provides more private outdoor space but also offers future potential for additions, landscaping projects, or even subdivision, subject to zoning.
5. The home is 61 years old. What should I be mindful of?
While the renovated basement is a plus, the core systems (roof, plumbing, electrical, foundation) of a home from this era may be at or beyond their typical service life. A thorough inspection is essential to understand the condition and any upcoming capital expenditures, which is a key trade-off for acquiring character and established greenery.