Property Overview
This 4-level split home at 3 Fordham Bay in Fort Richmond presents a specific and practical opportunity. Built in 1972, it sits on a generous 7,148 sqft lot, which is notably larger than many city-wide comparables. The 1,578 sqft living area is comfortably above average for Winnipeg overall. A key characteristic is its unrenovated basement, indicating a home that retains its original layout and finishes. The detached garage adds practical storage or workshop space.
Its primary appeal lies in its value as a canvas. The above-average lot size offers excellent outdoor potential, while the solid square footage and classic split-level layout provide a functional foundation. The property’s assessed value is positioned around the city-wide average, suggesting room for a buyer to add value through updates. This home would best suit a hands-on buyer, an investor looking for a property with good land value, or a family willing to undertake renovations over time to tailor the space to their needs. It’s less suited for someone seeking a move-in-ready, modernized home.
Frequently Asked Questions
What does "basement not renovated" typically mean?
It usually indicates the basement retains its original finishes, likely from the 1970s. Expect foundational elements like concrete floors, basic paneling or insulation, and an layout that may not conform to current open-concept tastes. This represents both a project and an opportunity to customize.
How significant is the lot size?
At over 7,000 sqft, the lot is a standout feature. It’s larger than many in the city and on the street itself, offering more privacy, space for gardening, play areas, or future additions like a deck or shed than a standard lot would.
The home is newer than most on its street. Is that an advantage?
Yes. Being built in 1972 makes it one of the newest homes on Fordham Bay. This could mean somewhat more modern construction techniques, wiring, or plumbing compared to immediate neighbors, potentially reducing the urgency of some major system updates.
The assessed value seems low for the street. Why?
The data shows its assessed value is among the lowest on Fordham Bay. This is often tied to the home’s condition (like the unrenovated basement) and original features compared to updated neighbors. For a buyer, this can mean a lower property tax base and a clearer path to increasing the home’s value through improvements.
Is a 4-level split layout efficient?
It depends on lifestyle. This style offers natural separation of living, sleeping, and utility spaces across multiple half-levels, which can provide privacy and defined zones. The trade-off is more interior stairs and a less open, flowing floor plan than a modern bungalow or two-story home. It works well for those who appreciate distinct living areas.