Property Overview: 31 Loyola Bay, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This one-storey home in Fort Richmond presents a straightforward opportunity centered on its land and location. Built in 1969, the 1,002 sqft house sits on a notably large, 7,890 sqft lot that ranks well above average for its street, neighborhood, and even city-wide. This generous outdoor space is the property's standout feature, offering significant potential for gardening, expansion, or simply enjoying ample private yard space in a mature area.
The home itself has a functional, unrenovated basement and no garage, positioning it as a true blank canvas or a potential value-add project. Its assessed value is modest relative to the neighborhood, suggesting an accessible entry point into the Fort Richmond community. The appeal here is primarily for the practical buyer who sees value in land over a turn-key home. It would suit a first-time buyer comfortable with a project, an investor looking for a lot with an existing rental property, or someone wishing to build equity through gradual, sweat-equity improvements. Its above-average living area for the immediate street also indicates a reasonably spacious layout compared to its closest neighbors.
Frequently Asked Questions
1. What does "above average" for the lot size actually mean?
The lot is approximately 7,890 square feet. This places it in the top 9% of lots on Loyola Bay, the top 17% within Fort Richmond, and the top 12% city-wide, making it a genuinely larger-than-standard parcel for the area.
2. The assessed value seems low. What does that indicate?
The assessed value of $33,600 is below the averages for both the street and Fort Richmond. This typically reflects the home's unrenovated condition and basic features (e.g., no garage). It represents a lower property tax base but also confirms this is a property where the value is heavily tied to the land and the potential of the structure, not its current finishes.
3. Is the basement finished?
No, the listing specifies the basement is "not renovated," meaning it is likely an unfinished or rudimentary space awaiting development.
4. What are the recent sale trends for this property?
Based on available data, the home was last sold in January 2019 for an estimated price between $26,500 and $29,500.
5. How can I find out the exact historical sale price?
The exact sold price is not publicly displayed in the listing data. You can request it by email through the provided form on the listing page; the service aims to provide the accurate figure manually by the end of the same business day.