Property Overview: 455 Garlies Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1930, presents a practical opportunity in the Inkster-Faraday neighbourhood. With 968 square feet of living space and a renovated basement, it offers functional space for its size. A key characteristic is its detached garage, a valuable asset in this area. The lot is a standard city size at just over 3,000 square feet.
The appeal lies in its strong relative value within its immediate context. While its size is below the Winnipeg city average, it ranks above average for assessed value on its street and in the wider neighbourhood, suggesting it is a well-regarded property among its direct peers. This indicates a solid foothold in an established community. The home last sold in 2022, providing recent market activity for reference.
This property would suit first-time buyers or practical investors looking for an entry into the market with a character home that has clear, comparable benchmarks. It’s for someone who values a defined, manageable lot and the utility of a detached garage over larger square footage. The renovated basement adds immediate functional living space without the need for a major project.
Frequently Asked Questions
1. What does the assessed value ranking actually mean for me?
It means that compared to similar homes on its street and in the Inkster-Faraday area, this property is assessed at a value higher than most. This can be a sign of the property’s condition or desirability within its specific micro-market, though municipal assessment isn't a direct indicator of market selling price.
2. Is the living space too small?
At 968 sqft, it is below the city-wide average. However, it is very close to the average size for homes on Garlies Street itself (~996 sqft). The renovated basement effectively expands the usable space, making it more functional than the main floor square footage alone suggests.
3. What are the implications of the 1930 build date?
The home is 96 years old, which is typical for its core neighbourhood. This means potential for character but also underscores the importance of a thorough inspection to understand the state of major aging components like plumbing, electrical, and the foundation, despite any renovations.
4. How does the 2022 sale price relate to today’s value?
The 2022 sale provides a recent anchor point for value. Market conditions have likely shifted since then, so this price is a useful data point for understanding the home’s trajectory, but not a definitive current value. Comparing it to the current assessed value can show how official valuations have responded.
5. Who might this neighbourhood suit?
Inkster-Faraday is an established, no-frills residential area. It suits buyers looking for affordability and convenience within Winnipeg, who prefer a straightforward, character-home neighbourhood over newer suburban developments. The tight rankings among nearby properties suggest a consistent community fabric.