Property Overview: 116 Valence Avenue, Fort Richmond
Key Characteristics & Appeal
This two-storey home in Fort Richmond presents a solid, above-average offering in several key metrics. Built in 1975, it is newer than most homes on its street and in the wider city. With 1,608 sqft of living space, it provides more room than many comparable properties locally. The lot size of 6,817 sqft is also generous, offering ample outdoor space. Key features include an attached garage and a renovated basement, adding functional living area. The home’s assessed value is positioned above average for the neighbourhood and city.
Its appeal lies in its balanced, well-rounded profile. It doesn’t necessarily lead in any single category but consistently performs better than average across living space, lot size, and property age for its immediate area. This suggests a property that has been maintained and offers good relative value. It would suit practical buyers—growing families or professionals—looking for a established home in a mature neighbourhood without needing to undertake major renovations, thanks to the updated basement. It’s a home for those who prioritize space and a sense of stability over brand-new construction.
Frequently Asked Questions
1. How has the property’s value changed over time?
Based on available sales data, the home sold in the $325k-$355k range in April 2019 and in the $385k-$415k range in June 2021. This indicates notable appreciation over that two-year period.
2. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal, rentable suite. This is a crucial point to verify with the seller and the city for potential rental income or mortgage helper scenarios.
3. How does this home truly compare to others on the street?
The data shows it ranks 8th of 43 for living area and 4th of 43 for year built on Valence Avenue, meaning it is among the larger and newer homes on its own block, which is a significant local advantage.
4. What are the typical property taxes?
With an assessed value of $454,000, property taxes can be estimated. A buyer should use the City of Winnipeg’s mill rate to calculate an approximate annual tax amount.
5. You mention “exact sold price history” is available by email. Why isn’t it public?
Sold price data is not always publicly posted in Manitoba. The service offered here manually provides this specific information upon request to give buyers a more accurate picture of past market activity for this specific address.