Property Overview
143 Bayridge Avenue is a 760 sqft bi-level home built in 1983, situated on a 3,611 sqft lot in Winnipeg's Fort Richmond neighbourhood. It features a renovated basement and does not include a garage or pool. The home's assessed value is $35,600.
Key Characteristics & Appeal
This property presents a specific value proposition. Its primary appeal lies in being an entry-point home in a well-established neighbourhood. The renovated basement adds functional living space, which is a significant asset given the compact main floor area. The 1983 build date is notably newer than many area comparables, suggesting potentially fewer immediate concerns with major aging components.
The home suits first-time buyers or investors seeking an affordable foothold in the market. Its below-average size and value for Fort Richmond mean lower property taxes and a manageable scale for upkeep, appealing to those with minimalist lifestyles or looking for a rental property. A thoughtful perspective is that its "below average" metrics are precisely what create its accessibility. While the lot is smaller than area norms, it requires less maintenance. The data indicates the home holds its value reasonably well city-wide, offering stability.
Frequently Asked Questions
1. Is the living space too small?
At 760 sqft, it is compact, ranking below most homes on the street and in the area. The renovated basement effectively doubles the usable space, making it practical for a small household, but those needing ample above-ground rooms may find it limiting.
2. Why is the assessed value so much lower than the city-wide average?
The $35,600 assessment reflects the home's smaller size and the local market in Fort Richmond. It's important to note that "city-wide" averages include all property types; this home's assessment is actually around the middle of the pack city-wide, indicating it's not an outlier in value.
3. What does the sold price history tell us?
The home last sold between $24.5k-$27.5k in 2016. This historical price, significantly below the current assessed value, highlights the property's substantial appreciation over the past decade and underscores the long-term growth potential in the area.
4. Are there any concerns with the year it was built?
Built in 1983, the home is newer than many in its immediate vicinity and across Winnipeg. This is generally positive, potentially meaning updates to roofing, windows, or systems are more recent. However, a professional inspection is always recommended to verify the condition of all components.
5. Who would this property not suit?
It would likely not suit buyers looking for a large yard, extensive above-ground square footage, or garage parking. Families needing multiple bedrooms or those who prioritize space over location and affordability may want to consider larger options.