643 Garwood Avenue

Property Overview

This two-storey home at 643 Garwood Avenue in Winnipeg's Earl Grey neighbourhood presents a classic character property with practical considerations. Built in 1913, it offers 1,210 sqft of living space, which is notably above average for its immediate street. Key features include a detached garage and an unrenovated basement. The lot is compact at 2,459 sqft, which is smaller than most in the area but can mean lower maintenance. Its assessed value is consistent with local averages. The home last sold in May 2022.

Section 1: Key Characteristics & Appeal

The primary appeal of this property lies in its well-proportioned living space within a sought-after neighbourhood. For its street, the home offers more interior square footage than 75% of comparable properties, making it a relatively spacious option in its peer group. This is a classic "good bones" home, ideal for a buyer comfortable with a property that has retained its original basement condition and awaits personalization. The detached garage adds functional value.

It would best suit a pragmatic buyer who values location and space over a large yard, possibly a first-time homeowner or an investor looking for a character home in a stable area. The smaller lot is a trade-off, reducing outdoor upkeep but offering less private space. A thoughtful perspective is that its average assessment for the area, combined with its above-average interior size for the street, could represent efficient value for the neighbourhood, prioritizing indoor living space over land.

Section 2: Frequently Asked Questions

1. What does "basement not renovated" typically imply?
It generally means the basement remains in a largely original or utilitarian state. Buyers should budget for potential updates and anticipate a professional inspection to clarify the condition of foundational elements, plumbing, and electrical systems in that space.

2. How does the smaller lot size impact daily living?
The lot is smaller than most in Earl Grey. This means less yard maintenance and gardening, which can be a benefit for busy owners. The trade-off is limited private outdoor space for recreation or expansion, making nearby parks like Earl Grey Park more valuable for this property.

3. The home sold recently in 2022. What should I consider?
A sale just two years prior suggests a relatively quick turnaround. It’s wise to inquire about the seller’s reason for moving and to understand what, if any, work was done during that period to gauge the home’s recent history and upkeep.

4. Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value (33.1k) is for municipal tax purposes. The last recorded sale price was 41.80k in 2022. Market conditions, property updates, and buyer demand will determine the final sale price, which can be significantly different from the assessed value.

5. What are the pros and cons of a 1913 build?
Pros often include solid craftsmanship, character details, and established neighbourhoods with mature trees. Cons can involve aging components (like plumbing or wiring) that may need updating, less efficient insulation, and the need for a thorough inspection to identify any century-old wear and tear.