Property Overview
31 Prescot Road is a well-situated, one-storey home in Winnipeg's Fort Richmond neighbourhood. Built in 1973, it offers 1,204 sqft of living space on a generous 6,957 sqft lot. The home features a renovated basement and does not include a garage or pool. Its assessed value is notably below the average for its immediate street, presenting a potential value opportunity in the area.
Key Characteristics & Appeal
This property’s primary appeal lies in its balance of space, location, and value. The living area is comfortably sized and ranks around average for the neighbourhood, making it a practical family home. The lot size is a standout feature, placing in the top 17% city-wide, offering ample outdoor space that is less common in newer developments.
Its strongest financial characteristic is the assessed value, which is in the top 80% on its own street—meaning it is lower than most neighbours'. This suggests a potentially attractive entry point into a stable area. The renovated basement adds immediate functional living space without the need for initial work.
The home would suit first-time buyers or downsizers seeking a manageable single-level layout in a mature neighbourhood. The large lot is a significant asset for those who value gardening, privacy, or future expansion potential. It’s a pragmatic choice for buyers who prioritize land size and value over a modern or high-spec finish.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in late 2017 for an estimated $32.5k–$35.5k. The current assessed value of $39.7k is higher, which is typical as assessments follow market trends. It remains below the current average assessed value for Prescot Road.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, permits, and whether it includes a separate entrance or additional bedrooms.
3. Is the lack of a garage a major concern?
The home has no garage, which is common for many homes of this era in the area. The large lot does provide room for potential addition of a garage or shed, subject to local bylaws.
4. How does the 1973 build year affect the home?
Built in 1973, the home is newer than many in Winnipeg but will still likely have original components, like windows or the roof, that may need attention or updating. Its build year ranks in the top 10% on its street, meaning it's one of the newer homes in that direct comparison.
5. What is the neighbourhood like?
Fort Richmond is a mature, established neighbourhood near the University of Manitoba. It offers a mix of residential streets with good access to amenities, parks, and major routes. The direct comparison data shows the property is very typical for this area in terms of size and value.