Property Overview: 47 Rice Road, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a practical opportunity. Built in 1973, it offers 1,169 sqft of living space with an attached garage and a renovated basement, adding valuable functional space. The lot is a notable feature at over 6,200 sqft, providing ample outdoor room that is larger than many city-wide comparables.
Its primary appeal lies in its balance and potential. The home sits in a mature neighbourhood with a below-average assessed value for its immediate street, which can indicate an entry point into a stable area. It suits first-time buyers seeking a manageable single-level layout with a finished basement for flexibility, or downsizers looking for a low-maintenance structure on a generous lot. A thoughtful perspective is that while the living space is modest for the immediate area, the large lot and renovated basement offer immediate utility and future potential, whether for gardening, expansion, or simply enjoying more private outdoor space than is typical in many parts of the city.
Section 2: Frequently Asked Questions
1. How does this home compare in size to others nearby?
At 1,169 sqft, the living area is below the average for both Rice Road and the broader Fort Richmond neighbourhood. However, the renovated basement significantly expands the usable space.
2. Is the assessed value a good indicator of the likely selling price?
The assessed value is a municipal tool for calculating property tax, not a market appraisal. This home's assessed value is below the street average, but the final sale price will be determined by current market conditions, the home's updated features, and buyer demand.
3. What does the lot size mean for me?
At 6,266 sqft, the lot is substantially larger than the Winnipeg city-wide average. This means more yard space, greater distance from neighbours, and potential for outdoor projects or additions, subject to local zoning.
4. What are the implications of a home built in 1973?
Homes from this era often have solid construction but may require updates to major systems like roofing, windows, or plumbing. A thorough inspection is recommended to understand the condition behind the renovated finishes.
5. Who might the nearby "similar assessed value" properties be relevant for?
These listings are useful for understanding what other types of homes exist in Winnipeg at a similar tax assessment level. They may be in different neighbourhoods, offering a point of comparison for value, but do not necessarily reflect similar living spaces or lot sizes on Rice Road.