Property Overview: 479 Garlies Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1907, presents a straightforward opportunity in Winnipeg's Inkster-Faraday neighbourhood. Its key appeal lies in its position as an accessible entry point into the market. With a living area of 821 sqft and an unrenovated basement, it is a compact property that prioritizes function over finish.
The home’s most notable characteristic is its assessed value, which is significantly below average for the street, neighbourhood, and city. This suggests a potentially lower property tax burden and a price point that could attract investors or hands-on buyers looking for a project. The lot size, at just over 3,000 sqft, is notably above average for Garlies Street itself, offering a relative abundance of outdoor space for the area.
This property would best suit a specific type of buyer: an investor seeking a rental property with fundamentals, a contractor or tradesperson looking for a live-in project, or a very budget-conscious first-time buyer willing to accept a home that requires modernization. Its value is rooted in its land and structure, not in current finishes or amenities. A thoughtful perspective is that its age and condition, while requiring work, also mean it’s less likely to have the hidden issues of quick, cosmetic flips. It’s a blank canvas with established, if dated, foundations.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value reflects the property’s age, smaller living area, and lack of renovation relative to peers. It is based on its current condition and market position, not on potential after improvements.
2. What does "one-and-three-quarter storey" mean for the layout?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, often creating cozy but potentially limited headspace in parts of the upper level.
3. Is the large lot size a advantage?
Yes, especially on this street. The lot is larger than most immediate neighbours, providing more private outdoor space and potential for gardening, storage, or future expansion, subject to zoning.
4. What should I budget for beyond the purchase price?
Given the age and mention of an unrenovated basement, buyers should prioritize inspections and budget for essential updates to roofing, wiring, plumbing, and heating. Cosmetic updates are a secondary consideration.
5. How reliable is the sold price history from 2017?
The listed range (6.5k-9.5k) is based on public data. For precise figures to inform your offer, you must request the exact sold price history from the site via email, as they verify this information manually.