Property Overview: 194 Bayridge Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This well-maintained two-storey home in Fort Richmond presents a practical and appealing opportunity. Built in 1981, it offers 1,205 sqft of living space, which is notably above average for its immediate street. A key feature is the renovated basement, adding functional living area. The property includes a detached garage and sits on a 3,882 sqft lot.
Its primary appeal lies in its strong positional value within a mature, established neighbourhood. The home’s assessed value ranks in the top 8% on its street, suggesting it is a standout property on Bayridge Avenue in terms of municipal valuation. While the lot size is more compact compared to broader area averages, this often translates to lower maintenance, a point of interest for many modern buyers.
This home would suit first-time buyers or downsizers seeking a move-in-ready property in a convenient South Winnipeg location without the upkeep of a larger yard. It’s also a sensible fit for an investor or owner-occupant looking for a property with a strong foundation (both literally and in terms of value metrics) on its specific block, where it outperforms many direct neighbours.
Section 2: Frequently Asked Questions
1. How does the lot size compare to the neighbourhood?
While the lot is a comfortable size for the home, it is below the Fort Richmond average. This can be a positive for those seeking easier yard maintenance, but buyers with specific desires for extensive outdoor space should take note.
2. The home sold in 2022 and 2016. What does that price history indicate?
The sold price ranges show appreciation between 2016 and 2022. More importantly, the 2022 sale price positioned the home in the top 25% for its street, indicating it has been a desirable property in its micro-market.
3. The assessed value seems low. Is that accurate?
The figures shown are in "k" (thousands) as part of a comparative metric system. The key takeaway is the ranking: an assessed value in the top 8% on its street signifies it is valued higher than most comparable homes directly around it, which is a positive indicator of its relative worth.
4. What does the "above average" living area for the street mean practically?
With living space ranking in the top 13% on Bayridge Avenue, this home likely offers more room than most other houses on the same block. This is a distinct advantage for a buyer comparing options within this specific location.
5. Is a 1981-built home a concern?
While newer than many city-wide averages, the major systems (roof, furnace, windows) will be at an age where inspection is crucial. The renovated basement is a significant update, but the condition of original components should be verified.