Property Overview

This home at 616 Garfield Street N in Winnipeg's Minto neighborhood presents a specific and practical value proposition. Built in 1948, its 768 sqft living space is notably compact, ranking it smaller than most homes on its street, in the area, and across the city. The lot size of 3,074 sqft is typical for the immediate locale. A key characteristic is its very modest assessed value of approximately $25,900, which is average for Minto but significantly below the Winnipeg city average. Public data indicates it last sold for an estimated $250k-$300k in 2023.

Its appeal lies in affordability and efficiency. It suits first-time buyers seeking an entry point into the market, investors looking for a rental property with a lower tax assessment base, or downsizers who prioritize minimal space and upkeep. A less obvious perspective is that, while the house itself is small, its post-war construction date makes it a relatively newer build compared to many of its neighbors, potentially implying updates or different construction materials than older area homes. Its value is fundamentally rooted in land and location rather than square footage.

Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sold price?
Assessed value in Manitoba is primarily for municipal tax purposes and is not intended to reflect current market value. It is based on a mass appraisal system. The significant gap between the assessed value (~$25,900) and the 2023 sale price ($250k-$300k) is common and highlights that market value is driven by buyer demand, property condition, and recent sales of comparable homes.

2. Is the small living area a major concern?
It depends on your needs. At 768 sqft, it is significantly smaller than average. This suits a minimalist lifestyle, a single occupant, or a couple. It likely means fewer rooms and compact living spaces. Buyers should carefully consider if the layout and size meet their long-term needs.

3. What does the "above average" year built ranking mean?
In the context of Garfield Street N and Minto, many homes were built earlier, around the 1930s. This home, built in 1948, is among the newer properties on the block. This doesn't necessarily mean it's been renovated, but it may have construction or design features from a different era than its immediate neighbors.

4. How reliable are the sold price ranges shown?
The ranges are based on publicly available data. For the exact sale price, you must request it via email from the service. This is a common practice to comply with data licensing and ensure accuracy, as public records sometimes only show broad price brackets.

5. What are the advantages of a typical-sized lot in this area?
With a lot size around 3,000 sqft, the property offers a manageable outdoor space consistent with the neighborhood. It provides room for a small yard, garden, or patio without the high maintenance of a larger plot. This balance is often sought after in established urban neighborhoods.