Property Overview: 588 Garfield Street N, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its generous lot and modern construction relative to its immediate neighborhood. The 728 sqft house, built in 1952, is notably newer than most on its street and in the Minto area, placing it in the top 10% locally for year built. Its primary standout feature is the 4,203 sqft land area, which is significantly larger than typical lots on Garfield Street N and in Minto, ranking in the top 6% and 13% respectively. This combination suggests a home that may require updates but sits on a substantial, rare parcel of land for the area.
The appeal lies in this land potential and a relatively recent sold price (2025, CA$250k–300k) that sits below the city-wide average. It suits practical buyers looking for a foothold in the city—first-time homeowners, investors, or builders—who see value in the land itself. The buyer likely prioritizes lot size over living space and is comfortable with a home that is smaller and more modest in assessed value compared to the Winnipeg average, but who recognizes the opportunity in owning one of the larger, newer properties on the block.
Section 2: Frequently Asked Questions
1. Is the house small compared to others?
Yes. At 728 sqft, the living area is below the average for the street, the Minto area, and Winnipeg overall.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value of $25,600 is in line with local area averages but is far below the Winnipeg average because it reflects the home's modest size and the typically lower property values in this neighborhood compared to more expensive city sectors.
3. What does the "Elite" ranking for Year Built mean?
It means this 1952-built home is among the newest 4% of comparable properties on Garfield Street N, where the average build year is 1930. It’s a relatively modern structure in a historic neighborhood.
4. How does the lot size compare?
The lot is a key feature. At 4,203 sqft, it is over 1,000 sqft larger than the average lot on the same street, offering more outdoor space or future expansion potential than most nearby properties.
5. What can the recent sold price tell me?
The 2025 sale in the $250k-$300k range indicates the market price was significantly higher than the assessed value, which is common. It positions the property in the lower-mid range for the city (top 72%), suggesting it is an affordable entry point into the Winnipeg market.