Property Overview: 559 Gareau Street, Winnipeg
Key Characteristics & Appeal
This 1948 two-storey home in Archwood presents a compelling blend of established character and above-average space. Its primary appeal lies in its generous proportions, both in its 1,745 sqft living area and its 4,251 sqft lot, which rank in the top tier for its street and neighbourhood. The home features a renovated basement and a detached garage. The data suggests a property that stands out locally for its size and perceived value, with an assessed value significantly higher than many immediate and area comparables.
Its appeal is grounded in offering more house and land than is typical for the area, suiting buyers looking for room to grow or who prioritize space over a newer build. It would particularly suit a practical buyer who values a home with a strong footprint in a mature neighbourhood, is comfortable with the maintenance considerations of a 78-year-old home, and sees potential in a property that already shows well in comparative metrics. A less obvious perspective is that its high rankings for size and value on its street indicate it may be a cornerstone property on the block, offering a sense of established presence and stability.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope or finish. This is a key detail to clarify, as it could range from modern living space to updated utilities and storage.
2. How does the 2019 sale price compare to the current asking price?
The home sold for $32.5k in 2019 and now carries an assessed value of $39.5k. This notable increase in assessed value over a short period is a central point of inquiry to understand the basis for the valuation and any improvements made.
3. The home is older—what should I consider regarding maintenance?
Built in 1948, major systems like roof, plumbing, electrical, and insulation should be carefully evaluated. Its age, however, is newer than many area homes, as it ranks in the top 17% of the neighbourhood for year built.
4. The assessed value seems high for the area. Why?
The home's assessed value ranks in the top 4% of Archwood. This is likely directly tied to its significantly larger living area and lot size compared to neighbourhood averages, as shown in the comparable listings.
5. What is the neighbourhood and street like?
Located in Archwood, the property sits on a street where this home ranks in the top 14% for lot size and top 2% for living area, suggesting it is among the larger, more substantial homes on the block. Reviewing the nearby properties list provides the specific addresses of immediate neighbours for further research.