Property Overview: 399 Garlies Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-three-quarter storey home, built in 1928, presents a solid opportunity in the Inkster-Faraday neighbourhood. Its key appeal lies in a combination of above-average space and a notably strong assessed value for its immediate area. With 1,146 square feet of living space, it offers more room than many comparable homes on its street and in the surrounding community. A recently renovated basement adds functional living space.

The standout characteristic is its assessed value of $28,200, which ranks in the elite top 5% for both Garlies Street and the wider Inkster-Faraday area. This suggests the property is viewed as a high-value asset within its local market context, even if it sits below the citywide average—a common dynamic in established, mature neighbourhoods. The detached garage and a standard 3,001 sqft lot complete the package.

This home would suit practical, value-conscious buyers looking for a character home with modern updates in a no-frills neighbourhood. It’s ideal for first-time homeowners seeking a manageable property with strong local equity indicators, or for investors attracted by the high assessment relative to nearby peers, which can signal stability and lower relative tax burden compared to immediate neighbours.

Section 2: Frequently Asked Questions

1. What does the “elite” assessed value ranking mean for me?
It indicates that, according to municipal assessment, this property is among the top 5% most valuable on its street and in the Inkster-Faraday area. This can be a sign of good upkeep or desirable lot traits relative to neighbours, and may influence resale value within the local market.

2. How does the below-average citywide ranking affect the property?
While the assessed value is high for its area, it is below the Winnipeg average. This reflects the neighbourhood’s overall affordability compared to newer or more central suburbs. It means you’re buying into a mature, established community at a different price point than the citywide benchmark.

3. The home was last sold in late 2021. What can that price range tell me?
The sold price range from 2021 provides a recent market anchor, showing what a buyer was willing to pay under the market conditions of that time. It’s a crucial data point for understanding price trajectory, but must be considered alongside current market trends and any updates made to the home since.

4. Is the living space sufficient for a growing family?
At 1,146 sqft, the living area is above average for the street and neighbourhood. The one-and-three-quarter storey layout and renovated basement likely offer flexible space. It’s a comfortable size for a small to medium family, typical of homes from this era, but may require creative use of space compared to newer open-concept builds.

5. What are the implications of a 1928 build date?
A home of this age offers character and likely a sturdy build, but prioritizes a thorough inspection. Key focus areas should include the foundation, roof, wiring, and plumbing to understand what maintenance or updates may be imminent, balanced against the charm and durability of older construction.