Property Overview
This well-maintained one-storey home in Fort Richmond’s Thornhill Bay area presents a practical and comfortable living opportunity. Built in 1976, the 1,302 sqft residence sits on a 6,160 sqft lot and features an attached garage and a renovated basement. Its assessed value of $460k positions it above average for the immediate street, neighborhood, and city-wide comparisons, suggesting a property that has been well-kept or updated relative to its peers. The home last sold in September 2023.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of space, location, and perceived value. The living area is consistently "around average" for its context, offering a comfortable footprint without being oversized. The standout metric is its assessed value, which ranks in the top 25% or better across all comparison levels. This indicates a home that likely offers good finishes or condition for its category, potentially providing more value per dollar than neighboring properties. The renovated basement adds functional living space and modern appeal.
It would suit practical buyers looking for a move-in ready, single-level home in a established neighborhood. It’s ideal for first-time buyers stepping into a home that doesn’t require immediate work, downsizers seeking manageable space without sacrificing quality, or investors attracted to a property with a strong assessed value in a stable area. A less obvious perspective is that its "above average" valuation on a street of similar-aged homes could mean it faces less upward pressure for immediate upgrades compared to a lower-valued home, allowing new owners to simply enjoy the property as-is.
Frequently Asked Questions
1. Why is the assessed value significantly higher than the recent sold price range shown?
Assessed value is set by the municipal government for taxation purposes and reflects their estimate of the property’s market value at a specific point in time. The sold price from 2023 is the actual market transaction. The difference suggests the market may have valued it differently than the assessor, or that updates contributing to the assessment weren't fully captured in the prior sale.
2. What does the "below average" land area ranking for Fort Richmond mean?
While the lot size is above average city-wide, it ranks below the average for the Fort Richmond neighborhood specifically. This means lots in Fort Richmond tend to be larger, so this property’s yard space is somewhat more modest compared to many nearby homes, but is still a good size overall.
3. Is a one-storey home with a basement suitable for a family?
Yes, particularly with a renovated basement. The main floor provides standard living areas, while the basement can be utilized as additional bedrooms, a family room, or dedicated play space, effectively doubling the functional area.
4. How might the age of the home (50 years) affect a buyer?
While major systems like roof, windows, or plumbing may have been updated, their age and remaining lifespan should be verified. The benefit of a home from this era is typically straightforward construction and settled foundations, but a thorough inspection is always recommended.
5. How do the rankings and comparisons work?
The rankings show how this property stacks up against similar homes in three circles: its immediate street, the broader Fort Richmond area, and all of Winnipeg. A "top 11%" rank for value, for example, means its assessed value is higher than 89% of comparable homes on its own street. This helps you understand its relative position in each market segment.