482 Garlies Street

Property Overview: 482 Garlies Street, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home on Garlies Street in Inkster-Faraday presents a distinct profile. Its primary appeal lies in its above-average living space (1,405 sq ft) for both the immediate street and the broader neighbourhood, offering more room than many comparable local homes. Built in 1905, it is a character property with a history, reflected in its notably low municipal assessed value. The lot is a standard city size for the area. The home has a basement but it is not renovated, and there is no garage or pool.

This property would suit a specific type of buyer: those with a vision for a renovation or restoration project who are looking to maximize square footage in this area without the premium price of a modernized home. It’s a practical entry point into homeownership for a handy buyer, or potentially a value-focused investment for a landlord, given the low tax assessment base. The appeal is less about immediate move-in readiness and more about underlying space and potential, coupled with very low property taxes.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property’s condition, features, and market value for taxation purposes. For a 1905 home with an unrenovated basement and no garage, the assessment is typically lower, which results in significantly lower annual property taxes compared to newer or updated homes.

2. What does "one & 1/2 storey" mean for the layout?
This style typically features main living areas on the ground floor with a second floor under sloping roof lines, often containing bedrooms in cozier, character-filled spaces. It’s different from a full two-storey with a complete second floor.

3. Are there any known issues with a house this old?
While the listing doesn’t specify, buyers should proactively investigate common concerns for century-old homes. This includes the condition of the foundation, plumbing, electrical systems, and insulation. A thorough pre-purchase inspection is essential.

4. How does the sold price history work?
The listed sold price is an estimated range based on public data. To obtain the exact historical sale price, you must request it via email from the site. This is a manual process they use to verify serious inquiries.

5. What are the realistic next steps for improving this property?
Given the unrenovated basement, that space offers clear potential for added living area or storage. Priorities would likely be modernizing essential systems (heating, electrical) and addressing any structural upkeep before cosmetic updates. The lack of a garage means off-street parking, if possible, could be a valuable future addition.