Property Overview: 687 Garfield Street N
Key Characteristics & Appeal
This home is a classic 1921-built character property in Winnipeg's Minto neighbourhood, offering 1,168 sqft of living space. Its primary appeal lies in its strong standing within its immediate locale. While its size and age are typical for the area, its assessed value of $29.70k ranks well above average for both Garfield Street and the broader Minto area, suggesting it is viewed as a solid asset within its community context. The lot is modest at 2,577 sqft, which is common for the neighbourhood but smaller than the citywide average.
This property would suit a pragmatic buyer who values established communities over sprawling lots. It’s ideal for someone looking for a character home without the extreme maintenance of a much older property, and who prioritizes value retention within a specific neighbourhood over competing in the citywide market. A thoughtful perspective is that this home represents a "local optima"—it may not be a standout citywide, but within its own streets and area, it performs strongly, offering a sense of stability and established worth.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
The home’s assessed value is in the top 24% on its street and the top 14% in the Minto area, indicating it is considered a higher-value property compared to its closest neighbours.
2. Is the lot size a limitation?
At 2,577 sqft, the lot is below average for the street but typical for the Minto area. It suits those preferring lower outdoor maintenance but may not be ideal for those desiring extensive gardening or large outdoor additions.
3. What does the sale history indicate?
Records show it last sold between $300k-$350k in 2021. This price was above average for both the street and the area at that time, reinforcing its trend of being a premium property in its immediate context.
4. Given its age, what should I consider?
Built in 1921, the home is around the average age for the neighbourhood. Buyers should budget for updates expected of a century-old home, such as plumbing, electrical, or insulation, while appreciating the character that era provides.
5. Why is the city-wide ranking for value much lower?
The assessed value ranks lower city-wide because comparison includes all property types across Winnipeg, including newer suburbs and larger homes on bigger lots. This highlights that the home’s strength and appeal are specifically rooted in its established neighbourhood context.