724 Garfield Street N

Property Overview

This home at 724 Garfield Street N in Winnipeg’s Minto neighbourhood presents a specific and practical value proposition. Built in 1952, it is a notably newer home compared to most on its street and in the immediate area, where the average build year is around 1930. The 750 sqft living space is compact, ranking below average for size locally and city-wide. However, it sits on a 3,721 sqft lot, which is larger than many of its immediate neighbours, offering a relative advantage in outdoor space.

The appeal here is grounded in efficiency and location-based value. With an assessed value significantly below the Winnipeg city average, it represents a lower barrier to entry into the housing market. The lot size offers potential for gardening, expansion, or simply more private outdoor room than is typical for the area. It would suit first-time buyers, investors looking for a rental property, or downsizers seeking a manageable home without leaving the city. Its newer vintage (for the area) may also suggest fewer immediate concerns with aging infrastructure common in much older homes.

Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value (listed as $26,600) is for municipal tax purposes. The recent sold price history (2022, in the $250k-$300k range) is a much better indicator of its actual market value.

2. The living area seems small. How does it compare?
At 750 sqft, it is indeed compact. It ranks below the average size for homes on Garfield Street N (~1,085 sqft), in the Minto area (~1,060 sqft), and across Winnipeg (~1,342 sqft). This confirms it's a smaller, more efficient footprint.

3. What does it mean that the year built is "Elite" for the street?
This is a relative ranking. Most homes on Garfield Street N are older, averaging a build year of 1930. A home built in 1952 is among the newest 4% on the street, which can be a positive factor regarding the potential age of major components like wiring or plumbing.

4. How does the lot size impact the property?
The 3,721 sqft lot is a key feature. It's larger than the street and area averages, meaning you likely have more yard space than neighbouring properties. This adds privacy, recreational potential, and future flexibility compared to more tightly packed lots.

5. Where can I see more context about the neighbourhood?
The listing suggests using a "neighbourhood analysis page" to see this property on a map alongside nearby homes, comparing details like year built, size, and value directly with its neighbours for a clearer local picture.