Property Overview

This home at 723 Garfield Street N in Winnipeg's Minto neighbourhood presents a solid, mid-century property with straightforward metrics. Built in 1942, its 1,114 sqft living area and 3,170 sqft lot are very typical for its immediate street and area, offering a sense of consistency and predictability. The appeal here is one of stability rather than standout features. It suits a practical buyer—perhaps a first-time homeowner or an investor—who values a known quantity in a mature neighbourhood. The data suggests it won’t surprise you, for better or worse, compared to its direct peers. A thoughtful perspective is that while its city-wide rankings for value and lot size are below average, this primarily reflects Winnipeg’s expansive suburban growth with larger, newer homes; within its own established community, it holds its own. This positions it as an affordable entry point into the city’s housing market, with the understanding that future value gains would likely be tied more to the neighbourhood’s overall movement than to the property’s inherent specs.

Frequently Asked Questions

1. How does this home truly compare to others nearby?
The data shows it is consistently around the average for Garfield Street N and the broader Minto area in terms of size, lot, and assessed value. It’s a very representative example of housing stock in this specific location.

2. The assessed value seems low. What does that indicate?
The assessed value is for municipal tax purposes and is not market value. Its low city-wide ranking is because the average includes much newer, larger suburban homes. For Minto, its assessment is typical, reflecting the neighbourhood's older, more modest housing stock.

3. What should I know about a house built in 1942?
While the year built is above average for its street, any home of this age will require a diligent inspection. Potential considerations include the condition of original plumbing, wiring, and the foundation. Its relative "newness" compared to neighbours is a minor data point, not a guarantee of condition.

4. The last sale was between $250k-$300k in 2020. How useful is that price today?
It provides a historical anchor, but the market has changed significantly since 2020. It’s best used as a reference point for how the property was valued one market cycle ago, not as a direct guide to its current price.

5. Who would this property be a good fit for?
It’s well-suited for a budget-conscious buyer seeking a no-frills, established neighbourhood home, or an investor looking for a rental property with predictable operating costs based on area norms. It’s less suited for someone prioritizing modern layouts, large lots, or above-average appreciation against the entire city market.