Property Overview
This one-and-a-half storey home on Garlies Street in Winnipeg’s Inkster-Faraday neighbourhood presents a practical and value-oriented opportunity. Built in 1930, its key appeal lies in its strong relative value within its immediate area. With 948 sqft of living space and a renovated basement, it offers functional space on a standard 3,001 sqft lot, complemented by a detached garage.
The home’s standout characteristic is its assessed value of $240,000, which ranks well above average for both its street and the broader Inkster-Faraday area. This suggests it is viewed as a solid asset compared to its closest peers. Recent sale history indicates active market interest. Its size and footprint are typical for the local context, making it a manageable property without the premium or maintenance burden of a larger city-wide average home.
This property would suit first-time buyers seeking an entry into the market with a home that holds its value in the neighbourhood, or an investor looking for a stable, rental-ready asset. It’s a grounded choice for those prioritizing location-specific value over maximum square footage, offering the character of an older home with the benefit of some modernized updates.
Frequently Asked Questions
How does the assessed value compare to recent sale prices?
The assessed value of $240k is consistent with the home’s recent sale price ranges from 2023 and 2024, indicating the assessment aligns closely with current market activity in the area.
Is the living space smaller than average?
At 948 sqft, the living area is slightly below the city-wide average but is very typical for the Inkster-Faraday neighbourhood, where comparable homes average about 1,025 sqft. It represents the standard footprint for the area.
What does the "above average" assessed value ranking mean for me?
Ranking in the top 20% of the neighbourhood for assessed value generally indicates the property is considered a higher-value asset compared to its immediate peers, which can be positive for equity and resale within the local market.
How does the age of the home factor in?
Built in 1930, the home is of a similar vintage to many in the area. Buyers should budget for maintenance consistent with a nearly century-old home, but its age is not an outlier for the neighbourhood.
Are the sold price figures shown exact?
No, the listed sold prices are estimated ranges based on public data. The exact sale prices can be requested directly from the listing service, as noted on the detail page.