378 Galloway Street

Property Overview: 378 Galloway Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 378 Galloway Street is a 972 sqft character property built in 1926, situated on a standard 3,000 sqft lot in the Robertson neighborhood. Its primary appeal lies in being a competitively priced entry point into the Winnipeg market, with an assessed value significantly below area and city averages. The home’s size is quite typical for its immediate street, offering a manageable footprint.

This property would suit first-time buyers or investors seeking a lower-cost holding with renovation potential. Its value proposition is clear: you are acquiring a home priced in the bottom 15% of the city, in a stable, established area. A thoughtful perspective is that while the lot size is smaller than many in Winnipeg, it represents less maintenance and could be a practical choice. The data suggests it’s a "neighborhood-conform" home on its own block, offering a sense of stability without standing out, which can be appealing for those seeking affordability and community fit over standout features.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value of $193k is for municipal tax purposes. Market value is determined by what a buyer is willing to pay, which can be higher or lower. The assessed value here is notably below averages, which often indicates a potential value opportunity or may reflect the home’s condition or features.

2. How does the living space compare to nearby homes?
At 972 sqft, the living area is very close to the Robertson neighborhood average (977 sqft) and is actually above the average for Galloway Street itself (877 sqft). So, while it feels compact city-wide, it is a standard size for its specific location.

3. What does the sold price history indicate?
Records show it last sold between $100k-$150k in 2016. This suggests substantial equity growth may have occurred if it was purchased near the lower end of that range, but exact figures require a manual lookup from verified sources.

4. Is the smaller lot size a disadvantage?
It depends on your priorities. The lot is average for the street but below the wider neighborhood and city averages. This typically means less yard maintenance and lower exterior upkeep costs, which can be a practical advantage for some buyers.

5. The home was built in 1926. What should I consider?
Homes of this age offer character but require diligent inspection. Key systems like wiring, plumbing, insulation, and the foundation should be professionally evaluated. Potential renovation costs need to be weighed against the home’s attractive entry price.