Property Overview
This 760 sqft, one-storey home at 480 Garlies Street in Winnipeg’s Inkster-Faraday neighbourhood presents a specific and practical opportunity. Built in 1957, it is notably newer than most homes on its street and in the immediate area. Its key characteristic is a renovated basement, adding functional living space. The lot is compact at 2,607 sqft, which translates to lower maintenance. The home lacks a garage or pool.
Its appeal lies in its simplicity and efficiency. It suits first-time buyers or investors seeking an affordable, low-maintenance entry into the Winnipeg market. The renovated basement offers immediate utility, whether for extra living space, a rental suite (subject to zoning verification), or a dedicated workspace. For the right buyer, the home’s below-average living area is offset by its above-average condition (for the street) and its manageable scale, offering a chance to build equity without the burden of a large property or an older, more maintenance-intensive structure.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers must verify with the city if a separate rental unit is permitted, as this affects insurance, financing, and legal compliance.
2. How does the compact lot size impact daily living?
At 2,607 sqft, the yard is smaller than most in the city. This is a benefit for those seeking minimal outdoor upkeep but a limitation for those wanting extensive gardening, play space, or future expansions like a large deck or garage.
3. The assessed value seems low. What does this mean?
The $21,700 assessment is above average for Garlies Street but below the city-wide average. This typically reflects the home’s smaller size and neighbourhood. It can mean relatively lower property taxes, but the sale price is determined by the market, not the assessment.
4. What are the implications of the home being newer than its neighbours?
Built in 1957, it is decades newer than many neighbouring homes (which average circa 1930). This can suggest potentially newer core components like wiring or plumbing, possibly reducing immediate major repair costs compared to much older homes.
5. Where can I find the exact historical sale price?
The listed sale history shows estimated ranges. The exact sold price data is available by request from the listing service via email, as noted in the property details.