Property Overview: 681 Garfield Street N, Winnipeg
Key Characteristics & Appeal
This is a compact, historic home built in 1909, situated on a standard-sized lot in the Minto neighbourhood. Its key characteristics are defined by how it compares to others. At 660 square feet, the living space is notably smaller than most homes on its street, in the area, and across Winnipeg. The assessed value of $18,500 is also significantly below typical averages, reflecting its modest size and age.
The primary appeal lies in its position as an entry-point property. It represents one of the most accessible price points in the city, ideal for a first-time buyer, an investor seeking a rental property, or someone looking to minimize housing costs. The lot size, while below the city average, is reasonably in line with the neighbourhood, offering standard outdoor space for the area. A thoughtful perspective is that a home of this age and scale offers a lower environmental footprint and manageable upkeep, suiting a minimalist or efficiency-focused lifestyle. Its recent sale history suggests it has been a viable and held asset.
This property would best suit a practical buyer who prioritizes financial accessibility over space, or an investor comfortable with managing an older character home. It is not suited for those requiring ample room or modern, turn-key conditions without renovation.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sold price?
Assessed value for municipal tax purposes often lags behind market value, especially in a dynamic market. The sold price reflects what a buyer was recently willing to pay, while the assessment is an administrative valuation.
2. What does the "top 96%" ranking for living area mean?
It means this home's living area is smaller than approximately 96% of comparable homes on its street. In other words, it is among the 4% smallest homes in that local comparison group.
3. Are there concerns with a house built in 1909?
Potentially, yes. While offering character, a home of this age will likely require careful attention to foundational, electrical, and plumbing systems, which may not be modernized. A thorough inspection is essential.
4. How reliable are the sold price ranges shown?
The ranges are based on publicly available data. For the exact historical sold prices, you must request the information directly via the provided email service, as this data is manually verified.
5. Is the land size a redevelopment opportunity?
The lot is a fairly standard size for the Minto neighbourhood. While always a possibility, the lot's dimensions are not unusually large, so any redevelopment potential would be subject to standard zoning rules rather than being a standout opportunity.