262 Garfield Street S – Property Summary
Key Characteristics & Buyer Profile
This is a 1920-built home with 869 sq. ft. of living space on a 3,504 sq. ft. lot, located in the Wolseley neighbourhood of Winnipeg. Its main appeal lies in the lot size and assessed value relative to the street. Lot size ranks above average on Garfield Street (top 21%), meaning more outdoor space than many neighbours, and the assessed value of $315k is notably strong for the street (top 19%). However, the living area is below average on the street, in the neighbourhood, and citywide—this is a compact home. The year built (1920) is older than average for the street and city, but fits well within the older character of Wolseley itself (top 25% in the neighbourhood).
This property would suit a buyer who values a prime lot in a sought-after, established neighbourhood over interior square footage. It’s a good fit for someone open to a renovation or expansion project, or for a buyer who prioritizes location, yard space, and the bones of an older home over move-in-ready size. It may also appeal to those who see value in a property where the land and location account for a larger share of the price than the structure itself.
Five Possible FAQs
1. How does the assessed value compare to similar homes in the area?
The assessed value of $315k is above average for homes on Garfield Street itself (top 19%), but sits around average for both the Wolseley neighbourhood and the city as a whole. This suggests the property is priced competitively for its street but not out of line with the broader market.
2. Is the living space small for Wolseley?
Yes. At 869 sq. ft., it’s below the neighbourhood average of 1,622 sq. ft. and also below the citywide average for comparable homes. Buyers should expect a compact footprint, which may be a trade-off for the larger lot.
3. What does the lot size mean in practical terms?
The lot is 3,504 sq. ft., which is above average for Garfield Street and around the middle of the pack for Wolseley. It’s smaller than many citywide lots, but in this older, denser neighbourhood, it offers more outdoor space than most nearby properties on the same street.
4. How old is the house, and is that typical for the area?
Built in 1920, this home is older than the average home on Garfield Street (which is around 1930) and much older than the citywide average of 1966. However, in Wolseley, where many homes date from the early 1900s, it’s actually older than the neighbourhood average of 1916, but fits comfortably within the area’s historic character.
5. What should I know about the neighbourhood before buying?
Wolseley is an established, central Winnipeg neighbourhood known for its mature trees, older homes, and walkable amenities. The property ranks below average for living area but above average for lot size on its street. Buyers should consider whether the compact interior and older construction align with their needs, or if the lot and location offer enough potential for future improvements.