Property Overview: 106 Garden Road, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Bruce Park, built in 1946, presents a practical opportunity centered on its generous 5,368 sqft lot. While the 1,140 sqft living area is modest and typical for its era, the property's standout feature is its fully renovated basement, adding valuable functional space. The home lacks a garage and pool, emphasizing a low-maintenance lifestyle.
Its appeal lies in its position as a solid, grounded offering in a well-established neighbourhood. The lot size is notably larger than many on its own street, offering above-average outdoor space for the immediate area. Recent sale history shows significant appreciation, suggesting the area is in demand. This property would suit a first-time buyer, a downsizer seeking a manageable home with a good yard, or an investor looking for a character home with renovation upside in a stable neighbourhood. It’s for those who value lot potential over move-in-ready perfection and see the charm and equity potential in a post-war home.
Frequently Asked Questions
1. How does the lot size compare to others?
The lot is over 5,300 sqft, which is larger than the average for Garden Road itself. In the broader Bruce Park neighbourhood and city-wide, it sits around the average, meaning you get a very good yard for the street, which is a relative advantage.
2. The living space seems small. Is it expandable?
The living area is indeed compact at 1,140 sqft. However, the renovated basement immediately adds usable space. Furthermore, the above-average lot size for the street could provide a long-term opportunity for an addition or expansion, subject to zoning and approvals.
3. What does the sale history tell us?
The home sold for $350k in early 2023, a substantial increase from its sale price of just $27.1k in mid-2022. This indicates a recent, significant investment (likely the basement renovation and other updates) and strong market interest in the property and area.
4. Is the assessed value a good indicator of the price?
No, not directly. The municipal assessed value for tax purposes ($29.7k) is dramatically lower than the recent sale price, as is common. Market value is determined by recent sales of similar homes, not the tax assessment.
5. What are the less obvious points to consider?
Consider the home's orientation on its large lot and the resulting sunlight in the yard and living spaces. Also, the lack of a garage means factoring in the cost and space for a shed or future carport if needed. Finally, as a 1946 build, while the basement is renovated, attention should be paid to the age and condition of major systems like the roof, plumbing, and electrical.