Property Overview: 40 Peony Avenue, Garden City, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Garden City presents a practical and value-oriented opportunity. Its key appeal lies in a combination of a renovated basement, a detached garage, and a notably large lot for its immediate street. At 5,829 sqft, the land area is significantly above average for Peony Avenue, offering more outdoor space and potential than most neighboring properties. The home itself, at 1,012 sqft of living space, is compact and efficient, suitable for those seeking manageable square footage. A standout feature is its assessed value of $360k, which ranks highly on its street, suggesting the property is viewed favorably relative to its closest peers. This combination suits first-time homebuyers, downsizers, or practical investors looking for a solid entry into the Winnipeg market with a property that offers a bit more land than usual for the area. It’s a home that prioritizes lot size and value-perception on its block over interior spaciousness.
Section 2: Frequently Asked Questions
1. How does the home's size compare to the area?
The living area is below average for both Garden City and Winnipeg overall, indicating a more compact floor plan. This is a trade-off for the larger lot size and the renovated basement, which adds functional space.
2. What does the "above average" assessed value on the street mean?
While the assessed value is around the middle when compared to the whole city or Garden City, it ranks in the top 22% on Peony Avenue itself. This suggests the property’s valuation is strong relative to its immediate neighbors, which could be due to the renovated basement, lot size, or overall condition.
3. Is the large lot a major advantage?
It is a relative advantage on this specific street, where the lot is in the top 13%. However, compared to the broader Garden City area, the lot size is actually below average. The benefit is highly localized.
4. What can the 2020 sale price range tell me?
The previous sale in the range of $305k-$335k provides a recent benchmark. Comparing this to the current $360k assessment can help gauge market movement and the municipality's valuation perspective over the last five years.
5. Who might this property not suit?
Buyers prioritizing spacious, modern interiors or a large home footprint may find it limiting. It’s better suited for those who value outdoor space and a manageable, efficient layout over sheer square footage. The 1960 build date also means potential for older-home maintenance considerations.