Property Overview: 409 Galloway Street, Winnipeg
Key Characteristics & Appeal
This is a compact, historically grounded home built in 1938, offering a highly affordable entry point into Winnipeg’s Robertson neighborhood. At 591 square feet, its living space is notably smaller than most area homes, placing it in the top 1% smallest city-wide. This defines its core appeal: it is one of the lowest-priced properties in the area, with an assessed value significantly below street and neighborhood averages.
Its primary suit is for a specific, pragmatic buyer. It’s an ideal candidate for a first-time purchaser seeking minimal mortgage exposure, an investor looking for a straightforward rental property, or someone interested in a low-cost footprint with potential for personalization. The lot size is typical for the street, offering standard outdoor space for a home of this era.
A less obvious perspective is its position as a “value anchor” on its block. Being the home with the lowest assessed value on Galloway Street could present a unique opportunity for value growth through even modest improvements, as it starts from a clear baseline. Its age and size suggest a simple, functional layout that may appeal to those seeking a minimalist lifestyle without the premium of a modern tiny home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The assessed value reflects the home’s significantly smaller living area (591 sq ft) compared to area averages, which are nearly double in some scopes. This smaller size is the primary driver of its lower valuation.
2. What type of renovation would add the most value?
Given the home’s size, any renovation that thoughtfully adds functional living space or modernizes the existing compact layout would likely have a strong impact. However, it’s important to consider the neighborhood’s overall price range to avoid over-investing.
3. Is this a good investment property?
Its low entry price and position as one of the most affordable homes in the area could make it a viable rental investment. Prospective landlords should factor in the smaller unit size, which may attract tenants looking for lower rent, and research local rental demand for compact homes.
4. How can I find out the exact past sale price?
The site provides sold price ranges for non-members. To receive the exact sale figures and full transaction history, you must request a manual lookup via email through the provided button, as this data is not sourced from the MLS.
5. The home is older—what should I check?
Built in 1938, it’s around the street’s average age. A thorough inspection should focus on the condition of foundational elements, plumbing, electrical systems, and the roof, which are typical considerations for a home of this vintage.