Property Overview
This one-storey home at 419 Ritchot Street in Central St. Boniface is a property defined by its location and potential. Built in 1946, it sits on a lot that is larger than many on its street, offering a valuable parcel of land in a well-established neighbourhood. The home itself is modest, with 840 sqft of living space and an unrenovated basement, reflecting its vintage. Its last known sale was in 2016 for $210,000. The appeal here is largely for the value-conscious buyer or investor who sees opportunity in the land and the character of St. Boniface, rather than in a move-in-ready finish.
Key Characteristics & Ideal Buyer
The primary draw is the lot size. At just over 4,190 sqft, the property offers more outdoor space than is typical for the immediate street and the Central St. Boniface area, presenting opportunities for gardening, expansion, or future development. The detached garage adds practical utility. As a home built in the post-war era, it likely possesses a simple, functional layout common to its time.
This property would best suit a hands-on buyer, such as a renovator looking for a footprint to modernize, or an investor attracted by the land value and the rental demand in a central, historic neighbourhood. It could also appeal to a minimalist or first-time buyer seeking an entry point into St. Boniface, who is prepared to live with the home’s current condition while planning gradual updates. The relatively low assessed value suggests property taxes may be manageable, which is a less obvious but important consideration for budget-conscious owners.
Frequently Asked Questions
1. What is the true condition of the basement?
The listing explicitly states the basement is "not renovated." Prospective buyers should budget for inspections to understand the state of the foundation, plumbing, electrical, and moisture control, as updates here could be a significant project.
2. How does the lot size compare practically?
While the land area ranks in the top 39% on Ritchot Street, it's still below the Winnipeg city average. The value is in having an above-average yard for this specific, central neighbourhood, not necessarily an exceptionally large one by suburban standards.
3. What does the sale history indicate?
The home last sold in July 2016 for $210,000. Market conditions have changed considerably since then, so this figure is a historical data point rather than a direct indicator of current value. A new assessment would be needed.
4. Is the living area sufficient for a family?
At 840 sqft, the living space is notably smaller than area averages. This suggests a compact layout likely suited for individuals, couples, or a very small family, emphasizing the importance of the yard and basement as potential space buffers.
5. What are the implications of the assessed value?
The assessed value for tax purposes is significantly lower than the last sale price. This can mean lower annual property taxes, but it also underscores that the market value is determined by far more than the city's assessment, especially in an active neighbourhood like St. Boniface.