Property Overview
This 1972 bi-level home at 14 Bryn Mawr Road in Fort Richmond presents a specific and practical value proposition. Its key appeal lies in the balance between a modest, renovated living space and a significantly larger-than-average lot. With 951 sqft of living area, the house itself is compact, ranking below average in size for its immediate street and neighborhood. However, it sits on a 7,328 sqft lot, which is notably larger than most comparable properties in Winnipeg. The assessed value of $380k is around the city-wide average but positions the home as a more affordable option within its own desirable Fort Richmond area. The renovated basement adds functional living space.
This property would suit first-time buyers or downsizers who prioritize land size and location over square footage, offering room for gardening, outdoor enjoyment, or future expansion. It’s also a practical entry point into a well-established neighborhood. A less obvious perspective is that a home of this vintage on a large lot in a mature area often holds long-term redevelopment potential, appealing to those with an eye for future land value as much as current livability.
Frequently Asked Questions
1. Is the house too small for a family?
While the living area is below average, the renovated basement effectively doubles the functional space. The large lot also provides crucial "breathing room," making it viable for a small family that values outdoor space over a large interior footprint.
2. Why is the assessed value around the city average if the house is smaller?
The value reflects the combined worth of the structure and the land. Here, the premium is largely in the land itself—its generous size and its location in the established Fort Richmond neighborhood, which commands higher property values than many other city areas.
3. What does "below average" for living area on this street mean?
On Bryn Mawr Road, this home's living area is in the bottom 6% (rank 50 out of 53 homes). This indicates the street consists mostly of larger homes, so this property stands out as one of the more compact options, which is directly reflected in its asking price.
4. How recent is the renovation, and what was done?
The provided details specify a renovated basement but do not include the scope or year of the renovation. This is a key question for a buyer to ask the listing agent to understand the quality and condition of the updates.
5. What are the typical property taxes for an assessed value of $380k?
Property taxes are not listed. Buyers should contact the City of Winnipeg or use their online tax calculator, inputting the assessed value, to get an accurate estimate of annual taxes.