Property Overview: 4335 Ridgewood Avenue, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home built in 1979 on a notably generous and private lot of over 7,300 square feet in the Eric Coy neighbourhood. With 1,136 square feet of living space, an unfinished basement, and no garage, it presents a straightforward layout with significant potential for customization. The property’s primary appeal lies in its substantial land size, which ranks in the top 14% of all Winnipeg lots, offering ample outdoor space for gardening, recreation, or future expansion. Its value is further underscored by a municipal assessment of $396,000, placing it above average for the city.
This home is ideally suited for a first-time buyer, a downsizer seeking single-level living, or a hands-on purchaser looking for a property where the value is anchored in the land itself. It appeals to those who prioritize space and privacy over turn-key finishes and see potential in personalizing a home over time. The unfinished basement provides a blank canvas for future development, adding to the home's long-term utility.
Frequently Asked Questions
1. What is the neighbourhood like?
Eric Coy is a mature, established community. The property’s rankings indicate it sits on a larger, older lot typical of the area, suggesting a neighbourhood with a settled, spacious feel.
2. Is there potential to add a garage or expand the home?
The very large lot size is a major asset here and could certainly accommodate a future garage, addition, or substantial outdoor living space, subject to municipal zoning and permit approvals.
3. Why is the assessment value higher than many similar-sized homes in Winnipeg?
The assessed value likely reflects the premium lot size, which is a key and permanent asset. Value in real estate is often tied to land, and this property possesses a notably larger parcel than most.
4. What should I budget for beyond the purchase price?
Prospective buyers should factor in costs to develop the unfinished basement, potential updates to a 47-year-old home, and the creation of off-street parking, as there is no existing garage.
5. How does the lack of a basement finish affect living space now?
While the main floor provides the essential living areas, the unfinished basement currently offers only utility and storage space. Any additional living, recreational, or bedroom space would require an investment to develop it.