Property Overview: 20 Kings Drive, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This one-storey home in Fort Richmond presents a compelling mix of space, value, and potential. Its most defining feature is the exceptionally large, private lot of over 31,000 sq ft—a rarity that ranks in the top 1% for both the neighbourhood and the entire city. This offers immense outdoor potential, from gardening to future expansion. The home itself, at 1,089 sq ft, is modest in size compared to others on the street but is around the city-wide average and features a renovated basement. Built in 1954, it is older than most in Fort Richmond but is a typical age for Winnipeg overall.
The appeal lies in a clear value proposition: you are acquiring a premium, oversized lot in a well-regarded area at an assessed value that is above average for the neighbourhood. Recent sale history suggests steady appreciation. This property suits practical buyers who prioritize land over a large existing footprint, including those looking for a long-term home with room to grow, hobbyists or gardeners craving outdoor space, or investors who see the underlying land value as a key asset. It’s a home where the true value may be realized through its potential as much as its current state.
Frequently Asked Questions
1. Is the house too small for the neighbourhood?
While the living area is below the street average, it is competitively sized for Winnipeg overall. The trade-off is intentional: you gain a vastly larger lot than nearly any other property in the city for a comparable assessed value.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent to understand if it’s a finished living space, updated utilities, or both.
3. How does the older build year (1954) affect the property?
It means the structure is older than most in Fort Richmond. Buyers should prioritize a thorough inspection to understand the condition of major systems (roof, wiring, plumbing) that may be due for updates, while also appreciating the classic character and established neighbourhood feel.
4. The assessed value seems low compared to the sold price ranges. Why?
Manitoba’s property assessments are not direct market valuations and can lag behind current market trends. The recent sold price history (2024) is significantly higher than older sales and the assessed value, indicating strong market demand and appreciation for this specific property.
5. What are the possibilities for such a large lot?
Beyond a spacious yard, the lot size opens future opportunities that are uncommon in the city, such as adding a substantial addition, building a detached garage or workshop, or even exploring subdivision potential, subject to all city zoning and bylaws.