50 Leeds Avenue

Property Overview: 50 Leeds Avenue, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This is a well-situated, one-storey home in Fort Richmond, built in 1973. Its key strength is the generous 7,677 sqft lot, which places it in the top 15-20% for land size both on its street and in the wider area. This offers significant outdoor space and potential. The living area of 1,440 sqft is comfortably above average for the immediate neighbourhood. A renovated basement adds functional living space. The home lacks a garage and pool.

The appeal lies in its established neighbourhood setting with a notably larger-than-average yard, providing room for gardens, play, or expansion. The single-level layout and renovated basement suit those seeking main-floor living or flexible space. Its assessed value is positioned around the neighbourhood average, suggesting a stable, mid-market entry point into the area.

This property would best suit first-time buyers, downsizers looking for a manageable single-level home with outdoor space, or value-oriented buyers who prioritize lot size over high-end finishes. It’s a practical home for someone who sees potential in the land and the renovated basement, rather than a turn-key luxury property.

Frequently Asked Questions

1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, legal compliance, and moisture control, which are key in older Winnipeg homes.

2. How does the lack of a garage affect daily life and value?
This is a trade-off for the large lot. Buyers should factor in the cost and feasibility of adding a garage or shed for storage and vehicle protection, which could be a future project given the available space.

3. The sold price history shows a sale in 2017 for roughly $34.5k–$37.5k, but the assessed value is now ~$41.6k. Why the difference?
The 2017 sale price appears to be an outlier, potentially reflecting a different market condition or a non-arms-length transaction. The current assessed value is more aligned with area averages and is the figure used for municipal tax purposes.

4. The home is older. What major systems might need attention?
Built in 1973, the roof, original windows, plumbing, and electrical systems are at an age where evaluation is prudent. The recent basement renovation may have updated some components, but a thorough inspection is advised.

5. How does the lot size compare to new developments?
At over 7,600 sqft, this lot is substantially larger than those in most newer suburban subdivisions, where lots are often under 5,000 sqft. This is a defining, less obvious advantage offering more privacy and space than many modern properties.