Property Overview & Key Characteristics
This two-storey home at 233 Dalhousie Drive in Fort Richmond is a practical, no-frills property that presents a clear value proposition. Built in 1970, its 1,152 sqft of living space is modest, particularly for the neighbourhood, where it ranks below average in size. The home features a basement (not renovated) and sits on a smaller lot of 2,782 sqft, which is notably compact for the area. A key standout is its assessed value, which is significantly below averages for the street, neighbourhood, and city, indicating a lower property tax base.
Its primary appeal lies in its affordability and potential. It suits first-time buyers or investors looking for an entry point into the established Fort Richmond area, close to the University of Manitoba and major transit routes. The lower assessed value is a double-edged sword: it suggests a manageable annual tax burden but also hints that the property may require updates. The compact lot offers easier, lower-maintenance yard care. This is not a move-in-ready showcase home but a solid foundation for someone willing to build sweat equity or who prioritizes location and low carrying costs over immediate modern finishes.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
A significantly lower assessment often reflects the home's condition, size, and features relative to its peers. Given the note that the basement is not renovated and the living area is below average, the assessment likely accounts for these factors, resulting in a lower property tax obligation for the owner.
2. Is the small lot size a major drawback?
It depends on your priorities. The lot is substantially smaller than typical in Fort Richmond, meaning less space for gardening, play, or expansion. However, it translates to less time and money spent on lawn maintenance and landscaping, which can be a benefit for busy households or investors.
3. What does "basement, not renovated" typically imply?
This usually means the basement is in original or functional condition, but not modernized. It likely provides valuable storage and utility space but may not be a finished living area. Buyers should budget for potential updates if they wish to use it as a family room or rental suite.
4. How does the sold price history help determine value?
The listed sale in July 2021 provides a historical benchmark. Comparing that price to the current assessed value and considering market changes since then can help gauge the property's price trajectory. It's a starting point, but a current market evaluation is essential.
5. Who would this property NOT be well-suited for?
It may not suit buyers seeking a large, modern home with ample outdoor space or those who want a turnkey property without renovation projects. Families needing significant room to grow might find the living space and lot size constraining compared to other options in the area.