Property Overview

This one-storey home at 5 Pearce Avenue in Winnipeg's Garden City neighbourhood presents a practical and grounded opportunity. Built in 1958, it sits on a notably large lot (over 7,200 sq ft) that ranks well above average for both the street and the wider city. The 1,176 sq ft living area is typical for the area, and the home features a renovated basement and a detached garage. Its assessed value is strong for its immediate locale, suggesting the property is well-regarded within its specific market context.

Key Characteristics & Appeal

The primary appeal of this property lies in its generous land size, offering ample outdoor space for gardening, recreation, or future expansion in a mature neighbourhood. The renovated basement adds functional living space, a valuable update in a home of this vintage. It suits first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space, as well as value-oriented buyers who prioritize land over a large interior footprint. A thoughtful perspective is that while the home itself is average in size for the city, its above-average assessment on the street and in Garden City indicates it may offer better-than-typical finishes or condition for the area, representing a solid, established presence rather than a fixer-upper.

Frequently Asked Questions

1. How does the property’s value compare to recent sales?
It last sold between $275,000 and $305,000 in September 2017. Its current assessed value of $369,000 is above the average for both Pearce Avenue and the broader Garden City area, indicating perceived value growth and a strong position relative to nearby homes.

2. What is the significance of the lot size?
At 7,202 sq ft, the lot is a standout feature. It ranks in the top 22% on its street and the top 15% citywide, offering significantly more outdoor space than many comparable properties, which is a key asset for privacy, outdoor living, or future projects.

3. What does "renovated basement" typically imply here?
While specifics aren't listed, in a 1958 home this usually means essential updates have been made, such as moisture control, modern flooring, and finished living spaces. It transforms the basement from a utility area into habitable space, adding to the home's functional square footage.

4. Who might this neighbourhood suit?
Garden City is a mature, established neighbourhood with a mix of long-time residents and new families. It appeals to those seeking a community feel with local amenities, good access to major routes, and the stability of older, tree-lined streets.

5. Why is the assessed value higher than some nearby comparisons?
The assessment considers factors like lot size, renovations, and overall condition. This home’s above-average assessment on its street suggests it may have features or updates not fully captured in the basic metrics, making it a stronger performer in its direct peer group.