Property Overview
This home at 663 Garfield Street N in Winnipeg’s Minto neighbourhood is a compact, century-old property that presents a clear value-oriented opportunity. Built in 1910, its 944 sqft living space is modest but functional for the area. The lot size of 2,578 sqft is also relatively compact for the city but is fairly typical for its immediate surroundings. The home’s most striking characteristic is its low assessed value of $19,400, which places it in the bottom 10% of properties locally and city-wide, indicating a significant price point below the norm.
Its appeal lies in its position as an accessible entry point into the Winnipeg market. It suits pragmatic first-time buyers, investors looking for a rental property with lower upfront costs, or downsizers seeking minimal property tax liability. A less obvious perspective is that a home of this age and value in a mature neighbourhood often has untold stories and original character that newer builds lack, appealing to those who appreciate historic charm over modern square footage. However, it requires a buyer comfortable with the maintenance and potential updates that come with a 116-year-old structure.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
Assessed value is based on a municipal evaluation for tax purposes and is influenced by factors like the home's age, size, condition, and recent sales in the area. This home's modest size, older age, and lower value relative to its street and neighbourhood all contribute to this figure.
2. How does the sold price history work?
The listed sold price (e.g., CA$150k–200k in 2021) is a range based on available public data. To obtain the exact historical sale price, you can request it via email from the listing service.
3. What does the "top X%" ranking mean for each feature?
These rankings compare this specific property to others on its street, in Minto, and across Winnipeg. For example, "Top 92%" for Assessed Value means its value is higher than only 8% of comparable properties, placing it in the lower tier. It's a relative performance indicator.
4. Is the smaller lot size a major drawback?
While the lot is below the city-wide average, it is closer to the average for the Minto area. This is typical for older, central neighbourhoods. It means less yard maintenance but may limit expansion possibilities.
5. What should I consider specifically due to the home's age?
A home built in 1910 may have outdated electrical, plumbing, or insulation. A thorough, professional home inspection is essential to understand the condition and anticipate any necessary repairs or renovations to meet modern standards.