Property Summary: 72 Arrowwood Drive N, Garden City, Winnipeg
Section 1: Overview & Appeal
This one-storey home in Garden City presents a practical opportunity, particularly for specific buyers. Its key characteristic is a well-proportioned, larger-than-average lot (over 6,000 sq ft) in a mature neighbourhood, offering valuable outdoor space and potential. The home itself is more modest in size at 1,021 sq ft, placing it below the local average for living space, but it features a renovated basement, adding functional square footage. It has a detached garage and was built in 1960.
The appeal lies in its grounded value. The assessed value is consistently around the average for its street, area, and city, suggesting a fairly priced entry point into the market. The significant lot size is a standout feature not always available with similarly priced homes, offering room for gardening, play, or future expansion. This property would best suit first-time buyers, downsizers looking for single-level living without a tiny yard, or value-oriented investors seeking a rentable property with a stable assessment history. It’s a home that prioritizes land over lavish interior space, appealing to those who see potential in the outdoors or in a solid, unpretentious foundation.
Section 2: Frequently Asked Questions
1. Is the living space too small?
While the above-ground living area is below average for the area, the renovated basement significantly adds to the usable space. Buyers should consider their need for open-concept living versus compartmentalized, functional rooms spread across two levels.
2. What does the "average" assessed value mean for me?
It indicates the property is not over-assessed relative to its neighbours, which can provide confidence in its market fairness and potentially lead to more predictable property taxes compared to a highly above-average assessment.
3. The home is older. What should I check?
Built in 1960, major systems like roofing, plumbing, electrical, and the foundation should be a priority for inspection. The renovation in the basement should also be checked for proper permits and moisture control.
4. How can I best utilize the large lot?
Beyond traditional gardening, the lot offers long-term potential for additions like a shed, a larger garage, or even a suite (subject to zoning). It also provides a sense of privacy and space uncommon in many newer subdivisions.
5. The last sold price range shows a significant increase from the assessed value. Why?
The assessed value (approximately $34.5k) is for municipal tax purposes and is often much lower than market value. The sold price range from 2022 ($37.5k-$40.5k) is closer to the actual market transaction price. Always rely on current market comparisons, not tax assessments, for valuing a home.