Property Overview: 8 Aster Avenue, Garden City, Winnipeg
Key Characteristics & Appeal
This one-storey home on a spacious 6,044 sqft lot in Garden City presents a practical and value-oriented opportunity. Its key updated feature is a renovated basement, adding functional living space to the 1,151 sqft footprint. The home is of a classic 1957 build, with a detached garage.
The primary appeal lies in its strong value proposition within its immediate area. While the living space is average for the street and neighbourhood, the property's assessed value ranks notably high on Aster Avenue (top 8%) and in Garden City (top 12%), suggesting it is viewed as a solid asset compared to its peers. This, combined with the updated basement, indicates a home that has been maintained and offers good intrinsic value. The lot size is also a quiet asset, ranking above average citywide.
This property would suit first-time buyers or practical downsizers looking for a manageable single-level layout in an established neighbourhood. It’s also a sensible fit for value-focused investors or homeowners who prioritize lot size and foundational condition over sheer square footage, and who appreciate the potential that a renovated basement provides for extra living or rental income space.
Frequently Asked Questions
1. What does the high assessed value ranking mean for me?
It indicates that, according to municipal assessment, this property holds more value relative to its direct neighbours and local area than its size or age might suggest. This often reflects desirable lot characteristics, updates (like the basement renovation), or overall condition.
2. Is the living space smaller than average?
At 1,151 sqft, it is slightly below the average for similar homes in Garden City. However, the renovated basement effectively adds usable space, making the total functional area more competitive than the main-floor square footage alone implies.
3. What is the significance of the lot size?
The lot is over 6,000 sqft, which is larger than many city lots. This provides ample outdoor space, potential for gardening, parking, or future additions like a shed or deck, and is a long-term asset that contributes to the property's value.
4. How recent was the basement renovation, and what does it include?
The listing confirms the basement is renovated but does not specify the date or scope. This is a key detail to request from the seller or agent to understand the quality of the update and if it includes elements like a legal suite, proper egress, or moisture control.
5. How does the last sold price (2022) relate to the current assessed value?
The assessed value of $399,000 is a municipal valuation for tax purposes. The home sold for an estimated $395k-$425k in late 2022. This close alignment suggests a stable market value, but the current listing price and market conditions will determine its present worth.