Property Overview
17 Petersfield Place is a well-situated bi-level home in Fort Richmond, built in 1974. With 955 sqft of living space, an attached garage, and a renovated basement, it presents a practical, entry-level opportunity. The home’s standout feature is its generous 9,771 sqft lot, which is significantly larger than most in the city, offering ample outdoor space and future potential. While the living area is compact, the renovated basement adds functional space. Its assessed value is positioned around the neighbourhood and city averages, suggesting a stable market footing.
Key Characteristics & Appeal
The primary appeal of this property lies in its land value and location. The lot size is in the top 7% citywide, a rare find that provides privacy, room for gardening, play, or expansion, and a sense of space uncommon for the price point. The home itself is a manageable size, suited for efficient living, with the basement renovation adding ready-to-use flexibility for a family room, office, or guest space.
It would suit first-time buyers or downsizers looking for a low-maintenance footprint without sacrificing yard space. It’s also a strategic buy for a long-term holder who values land over square footage, recognizing that the large lot is an appreciating asset that can outlast the structure itself. The data indicates it’s one of the newer homes on its street, which can be a plus for systems and upkeep. A thoughtful perspective is that this home offers a balance: you’re purchasing a functional house, but you’re primarily investing in a substantial piece of Fort Richmond land.
Frequently Asked Questions
1. Is the house too small at 955 sqft?
While below average in size, the renovated basement effectively doubles the usable living area, making the home feel more spacious than the main floor square footage suggests. It’s a layout that works well for smaller households.
2. Why is the assessed value relatively low compared to the sold prices shown?
Assessed values for tax purposes often lag behind current market values. The sold price range from 2018 and the home’s average assessment for the area suggest its market value is likely higher than the $39.70k assessment.
3. What are the implications of such a large lot?
It offers excellent potential for future enjoyment or investment, such as adding a deck, shed, or even a future addition (subject to zoning). It also means more yard maintenance, which is a consideration for some buyers.
4. How does it rank compared to nearby homes?
The home has a smaller living area than most on its street and in Fort Richmond. However, it compensates with a newer build year and a much larger lot size than nearly all comparable properties in the wider city.
5. What is the neighbourhood like?
Fort Richmond is a mature, established neighbourhood near the University of Manitoba. It offers a mix of residential streets, convenient amenities, and access to parks and schools, appealing to families, academics, and professionals.