Property Overview: 732 Garfield Street N, Winnipeg
Key Characteristics & Appeal
This home at 732 Garfield Street N in the Minto neighbourhood presents a compelling mix of space, location, and value. Built in 1941, its primary appeal lies in its generous proportions relative to its immediate area. The 1,326 sqft living area is notably larger than most similar homes on its street and in the Minto area, placing it in the top 17-22% locally. A standout feature is the 4,196 sqft lot, which is significantly above average for the street (top 6%) and neighbourhood, offering substantial outdoor space that is increasingly rare in mature communities.
The home’s assessed value of $270,000 is positioned around the average for Minto and its specific street, suggesting a market-aligned price point. A key perspective is its value proposition within a city-wide context: while the living space is around the Winnipeg average, the assessed value sits well below the city-wide average for comparable homes, indicating you may get more house for your money within this established neighbourhood. Its last known sale was between $250,000-$300,000 in 2019.
This property would suit practical buyers looking for a character home with ample indoor and outdoor space without a premium city-wide price tag. It’s ideal for those who value a larger lot for gardening, recreation, or future expansion potential in a well-located, no-frills neighbourhood. It may also appeal to value-conscious purchasers who recognize the advantage of a home that outperforms its immediate peers in key metrics like living area and land size.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
The 1,326 sqft living area is larger than most comparable homes on Garfield Street N and in the broader Minto neighbourhood, placing it in the top 22% and 17% respectively for size in those groups.
2. What is the significance of the large lot size?
At 4,196 sqft, the lot is substantially larger than the average on its street (top 6%) and in Minto (top 13%). This offers more private outdoor space, potential for landscaping, gardening, or additions, and is a key asset as larger lots become less common in established areas.
3. The home was built in 1941. What should I consider?
While newer than many homes on its street (top 22%), an 85-year-old home will likely have undergone updates. A thorough inspection is essential to understand the condition of major systems like wiring, plumbing, and the foundation, and to identify any needed renovations or historical charm worth preserving.
4. How does the assessed value relate to the likely market price?
The $270,000 assessment is around the average for Minto. It provides a baseline for property taxes but is not a direct market appraisal. The last sale was between $250k-$300k in 2019, so current market conditions, the home’s updated condition, and its desirable lot size will be the primary drivers of its listing price.
5. The city-wide assessment ranking seems low. What does that mean?
While the home’s value is competitive within Minto, it ranks below average (top 78%) city-wide. This primarily reflects Winnipeg’s varied market, where average home values differ greatly by area. It suggests this property offers a more accessible price point compared to the city-wide average, which can be an advantage for buyers focused on specific neighbourhoods.