116 Garfield Street S – Property Summary

Key Characteristics & Buyer Profile

This 1921 home offers 1,056 sq ft of living space on a 3,293 sq ft lot. Its footprint is close to the average for the street, but notably smaller than typical homes in the wider Wolseley neighbourhood, where the average is 1,622 sq ft. The assessed value of $372,000 sits well above the Garfield Street average ($269,000), reflecting either recent improvements, better condition, or a premium location within the block. The lot is slightly larger than the street average, which is a practical advantage in a dense, established area like Wolseley.

The appeal here is not about space or a big yard, but about value within a sought-after neighbourhood. The property is older (built 1921) and smaller than the city’s median home, but its assessed value is competitive with newer and larger properties elsewhere. That suggests a focus on location and character over square footage. This would suit buyers who want to be in Wolseley—known for its tree-lined streets, walkability, and older homes—and are willing to trade floor area for a more accessible price point. It may also appeal to someone looking for a home with bones from an earlier era, where thoughtful updates could add further value.

Frequently Asked Questions

1. How does this home compare to others on Garfield Street in terms of size and value?

It's close to the street average for living area (1,056 sq ft vs. 1,085 sq ft) and has a slightly larger lot (3,293 sq ft vs. 3,139 sq ft). The assessed value, however, is significantly higher—$372,000 compared to the street average of $269,000—placing it in the top 7% of properties on the block.

2. Is this property considered a good deal compared to the rest of Winnipeg?

Yes, relatively speaking. While the home is smaller and older than the city average, its assessed value ($372,000) is below the citywide average of $390,000. In a market where older, smaller homes often carry a discount, this one is priced close to the city norm, which suggests it holds its value well for its type.

3. What’s the significance of the lot size in a neighbourhood like Wolseley?

Wolseley is a mature, established area where lots tend to be smaller than the city average. A 3,293 sq ft lot is on the larger side for the street and roughly on par with the neighbourhood average. That gives a bit more outdoor space than typical infill or row houses, which is a practical benefit in a dense urban setting.

4. Should I be concerned that the home is over 100 years old?

Not necessarily. The property was built in 1921, which is newer than the Wolseley average (1916) and older than the city average (1966). Older homes in this area often have solid construction and character features, but buyers should budget for ongoing maintenance and potential upgrades to systems like plumbing, electrical, or insulation. The assessed value suggests the home is in reasonable condition relative to its age.

5. What kind of buyer typically looks at a property like this?

Someone who prioritises neighbourhood character and location over a large floor plan or modern build. This could be a first-time buyer looking for an entry point into Wolseley, someone downsizing from a larger home but wanting to stay in the area, or an investor interested in a property with strong street-level value and potential for future appreciation through thoughtful updates.