Property Overview: 52 Raphael Street, Winnipeg
Key Characteristics & Appeal
This two-storey home in Fairfield Park is a substantial property that stands out for its generous scale and modern foundation. Built in 2007, it offers over 2,300 square feet of living space, placing it well above the city average. Its true distinction lies in the land: a 13,230 sqft lot that ranks in the top 2% of the neighbourhood, offering rare potential for privacy, gardening, or expansion. The home features an attached garage and a renovated basement, adding functional living space.
The appeal is rooted in its balanced offering of a relatively contemporary build, significant interior space, and an exceptionally large lot—a combination that is uncommon in the city core. Its assessed value places it among the elite properties in Fairfield Park, suggesting a premium, established location.
This home would best suit buyers looking for a long-term family home with room to grow, who value outdoor space as much as indoor square footage. It’s ideal for someone wanting a newer construction without sacrificing yard size, or for those who see the land itself as a primary asset with future potential.
Frequently Asked Questions
1. How does the property’s value compare to its neighbours?
The home’s assessed value is in the top 4% for Fairfield Park, indicating it is a higher-value property within a desirable neighbourhood. It sits above the average for its immediate street but aligns with the premium status of the area.
2. Is the lot size typical for the area?
No, the lot is a key feature. At over 13,000 sqft, it is significantly larger than the neighbourhood average (~6,100 sqft), placing it in the elite 2% for Fairfield Park. This offers more privacy and space than most nearby properties.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point for a viewing or direct inquiry with the seller to understand the quality and use of the additional space.
4. The home sold in 2020 for $720k, but is now assessed at $830k. Why the difference?
Property assessments for taxation purposes and market sale prices can differ. The increase reflects municipal valuation trends over four years, influenced by market conditions and improvements. The actual list or sale price is determined by the current market.
5. Given its elite rankings, what might be less obvious considerations?
While the space and lot are premier, a 2007 build may soon require updates to major systems (like HVAC or roofing) due to age. Additionally, such a large lot, while a benefit, also means higher maintenance and potentially higher property taxes relative to smaller lots in the same area.