Property Overview: 667 Garfield Street N, Winnipeg
Key Characteristics & Appeal
This home presents a practical opportunity in Winnipeg's Minto neighborhood. Built in 1946, it is a notably newer construction compared to many homes on its street and in the immediate area, which may suggest updated infrastructure or fewer concerns associated with very early 20th-century builds. With 1,027 sqft of living space, it offers a comfortably sized interior that is typical for the local area. A key feature is the 3,470 sqft lot, which is larger than average for Garfield Street N, providing valuable outdoor space for gardening, recreation, or future expansion.
The appeal lies in its position as a solid, middle-of-the-road property within its established community. Its assessed value is consistent with the local area, indicating a fair market positioning without a premium price tag. This home would suit first-time buyers seeking an entry point into the market, practical investors looking for a rental property, or downsizers who value a manageable-sized home on a generous lot. It offers the chance to live in a neighborhood of similar vintage homes without taking on the potential challenges of a century-old structure.
Frequently Asked Questions
1. How does the sold price history inform the current value?
The property sold in the 2021 market for an estimated $300k-$350k. This past sale provides a benchmark, but current value is influenced by present market conditions, the home’s updated condition since then, and the detailed assessed value metrics provided.
2. What does it mean that the home is "newer" than others on the street?
While built in 1946, it ranks in the top 11% for year built on Garfield Street N, where the average home was built around 1930. This relative newness could imply features from a later building era, but a professional inspection is still essential to understand the exact condition of its 80-year-old structure and systems.
3. Is the lot size a significant advantage?
Yes. The lot is above average for the street, offering more private outdoor space than many direct neighbors. This is a less obvious asset that adds utility and potential, whether for immediate use or as a long-term value factor in a densifying city.
4. How does this property compare to the wider Winnipeg market?
City-wide data shows its living space and lot size are below the Winnipeg average, and its assessed value is significantly lower than the citywide average of ~$390k. This highlights that it represents a different market segment—offering affordability and a established neighborhood feel rather than a larger, potentially newer suburban property.
5. Why is the assessed value so much lower than the citywide average?
Assessed value for tax purposes is not the same as market value. The dramatic difference reflects the much higher average property values across all of Winnipeg compared to this specific area. It is more meaningful to compare the assessment to the local and area averages (around $26k), where it aligns closely, confirming its consistency within the Minto neighborhood.