255 Garfield Street S – Property Summary
Key Characteristics & Buyer Profile
This 1,380 sqft home on Garfield Street in Wolseley offers a clear standout feature: strong value relative to its immediate street. Assessed at $355k, it ranks in the top 11% on Garfield, where the average is $269k—meaning this property is one of the higher-valued homes on its block. Its living area is also above average for the street (top 17%), though lot size is typical for the area at 3,013 sqft.
The house was built in 1920, which is older than the street average (1930) and much older than the citywide average (1966). However, within Wolseley—a neighbourhood known for its older character homes—this year of construction is actually above average, ranking in the top 25%. This suggests the property has likely been well maintained or updated relative to nearby vintage homes.
The appeal here is for a buyer who values location over a turnkey modern build. Wolseley is a sought-after inner-city neighbourhood with mature trees, walkable streets, and older homes with character. The assessed value is around average for the neighbourhood and city, meaning you’re not paying a premium for the street’s higher-tier status—you’re getting a home that sits well compared to its immediate neighbours without breaking the broader market. It would suit someone who appreciates an older home with good bones and wants to be in a central, established area without sacrificing too much on living space.
FAQs
1. How does this house compare to other homes on the same street?
It’s one of the higher-value properties on Garfield Street—top 11% in assessed value and top 17% in living area. The lot size is about average for the street, while the year built is a bit older than the street average.
2. Is the year built (1920) a concern?
It depends on your perspective. In Wolseley, 1920 is actually newer than many nearby homes (the neighbourhood average is 1916), so it fits the area’s character stock. Citywide, it’s older than the average home (1966), so you’ll want a recent inspection and an understanding of maintenance history—especially for electrical, plumbing, and insulation.
3. What does the assessed value tell me about the market price?
Assessed value is a municipal estimate, not an asking price, but it gives a reference point. At $355k, it’s on par with the Wolseley average ($371k) and below the citywide average ($390k). For the street, it’s well above average ($269k), which can be a good sign if you’re comparing against nearby recent sales.
4. Why is the lot size considered “below average” citywide but “around average” locally?
Citywide, many homes sit on much larger lots—over 6,500 sqft on average. In Wolseley, lots tend to be smaller and more uniform (averaging around 3,400 sqft). This lot is 3,013 sqft, so it’s typical for the neighbourhood but smaller than what you’d find in newer suburban areas.
5. What kind of neighbourhood is Wolseley?
It’s one of Winnipeg’s older, more established neighbourhoods, known for its tree-lined streets, historic homes, and close proximity to the Assiniboine River and downtown. It tends to attract buyers who value walkability, character, and a strong sense of community over a newer, larger home further from the core.