261 Garfield Street S — Property Summary

Key Characteristics & Buyer Profile

This is a 1,424-square-foot home built in 1920, sitting on a 3,013-square-foot lot in the Wolseley neighbourhood of Winnipeg. The property's main appeal is its strong assessed value relative to its immediate street. While the home's size is slightly above average for Garfield Street and close to citywide medians, its assessed value ranks in the top 6% on the street and well above the street average of $269,300. The lot size is modest—below citywide norms, but typical for the area. The year built is old even by Wolseley standards, which is already an older neighbourhood, meaning the house likely retains original character but may need updating.

This property would suit a buyer who values location and land value potential over square footage or a large yard. Wolseley is a mature, walkable area with older homes and established tree canopy, so the buyer should be comfortable with a century home's maintenance realities. Someone looking for a "fixer-upper with bones" in a desirable central neighbourhood—or an investor eyeing value-growth potential on a street where comparable homes are assessed lower—would find this interesting. It may not suit buyers seeking move-in-ready modern finishes or a large lot for additions.

Frequently Asked Questions

1. How does the property's assessed value compare to similar homes nearby?
It's well above the street average ($269,300) and slightly above the neighbourhood average ($371,300), but falls just below the citywide average ($390,100). On Garfield Street, it ranks in the top 6%, suggesting strong relative value.

2. What is the condition of a home built in 1920?
The year built is below average for Garfield Street (most were built around 1930) and well below the citywide average of 1966. However, in Wolseley, 1920 is actually newer than the neighbourhood median (1916). Buyers should expect older systems, potential knob-and-tube wiring, and possibly lead pipes—common in this era. A thorough inspection is essential.

3. Is the lot large enough for an addition or a garage?
At 3,013 square feet, the lot is slightly below the street average (3,139 sqft) and significantly below the citywide average (6,570 sqft). In a mature neighbourhood like Wolseley, this is typical. Space for a detached garage or a small addition may be possible, but it'll be tight. Zoning and setback requirements should be checked before planning changes.

4. How does this home compare to others currently for sale in Wolseley?
That depends on the listing price, which isn't included here. But the assessed value data suggests sellers might price above the neighbourhood average given the street-level premium. Availability in Wolseley tends to be limited, so competition can be higher for homes in the top assessment tier on a given street.

5. Why is the assessed value so much higher than the street average if the home is older?
Age isn't the only factor in assessments. Condition, interior updates, location within the street (corner lot? near amenities?), and recent sale prices of similar homes all play a role. A higher assessed value relative to neighbours often reflects upgrades that aren't visible from the street—renovated kitchens, bathrooms, or mechanical systems. It's worth asking what work has been done.