127 Garfield Street S – Property Summary

Key Characteristics & Buyer Fit

This 1924 Wolseley home is small but holds its value. At 928 square feet, it’s noticeably smaller than the neighborhood average of 1,622 sqft—ranking in the bottom 7% locally—though that’s partly because the area includes larger, newer homes. The land is modest at 3,012 sqft, also below the neighborhood norm. What stands out is the assessed value: $388,000. That’s well above the street average of $269,300, ranking in the top 5% on Garfield Street S. So despite being a smaller older home, it’s commanding a premium, likely due to its location in a desirable central Winnipeg neighbourhood known for its character, tree-lined streets, and walkable proximity to shops and parks.

The appeal here is less about square footage or lot size and more about value density. A buyer gets a piece of an established, sought-after area without paying for extra space they may not need. The year built (1924) aligns with the older housing stock that many people actively seek in Wolseley—it’s above average for the neighbourhood, meaning it’s not the very oldest, but fits the character.

This property would suit: first-time buyers or downsizers who prioritize location over footprint, value character and walkability, and are comfortable with a smaller home on a smaller lot. It may also appeal to investors because the assessed value suggests strong demand and price stability. It’s less likely to suit families needing large living spaces or a big yard, or anyone looking for high upside through expansion.

Five Possible FAQs

1. Why is the assessed value so much higher than the street average if the house is small?
Assessed value reflects what the market has recently indicated similar properties are worth, not just size. On Garfield Street S, many homes are modest or need updating, so a well-maintained 1924 home in a top location can stand out. Location and condition often outweigh square footage in older neighbourhood rankings.

2. How does this property compare to typical Wolseley homes?
It’s smaller than average in both living area and land, but the value per square foot is higher than many neighbours’. That’s common for older, centrally located homes that have been well kept. You’re paying for the neighbourhood and the character, not the space.

3. Is a 1924 house a good investment from a maintenance standpoint?
It depends on recent renovations. Older homes often have solid construction but may need updated electrical, plumbing, insulation, or windows. Without inspection data, a reasonable assumption is that you’ll have some ongoing maintenance. The upside is that Wolseley tends to hold value well, so money put into upkeep often pays off in resale.

4. Could I expand the living area or lot?
The land is smaller than average, so major expansion would be limited. Check zoning and setback rules before planning. Many older city lots don’t allow much more footprint. Renovating the interior—like finishing a basement or reconfiguring rooms—is more realistic than adding a large addition.

5. How does this property rank city-wide in terms of value?
It ranks around the middle—top 42%—for assessed value in Winnipeg. That’s solid, but not elite citywide. The real strength is at the street level (top 5%) and neighbourhood level (top 33%). So it’s a strong buy for Wolseley and Garfield Street in particular, but not an outlier compared to all of Winnipeg.