55 Laval Drive

Property Overview: 55 Laval Drive, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated Fort Richmond home is a classic one-storey bungalow built in 1965, presenting a practical and straightforward living opportunity. Its key appeal lies in its generous, above-average lot size of over 7,100 sqft, offering more outdoor space than most homes on its street and across Winnipeg. The home itself features a renovated basement and a detached garage, with a living area that is comfortably average for the neighborhood. Recent sales data indicates strong market activity on Laval Drive.

Its value proposition is grounded in space and location rather than modern luxury. It suits buyers looking for a solid entry point into a established neighborhood, or those seeking a larger yard for gardening, pets, or future expansion. It would also appeal to a practical buyer who values a renovated basement as a ready-made family or recreational space, and who prefers the simplicity and accessibility of single-level living. A less obvious perspective is that a home of this vintage on a large lot in a mature area often holds long-term value not just for the house, but for the land itself.

Section 2: Frequently Asked Questions

1. How does the property’s size compare to others?
The 1,232 sqft living area is typical for the area, but the 7,167 sqft land area is a standout feature, placing it in the top 10% of lots on Laval Drive.

2. What is the significance of the assessed value?
The assessed value is a municipal valuation for tax purposes, not market price. At $39,300, it is around average for the street but below the average for the wider Fort Richmond area, which may be a point of discussion regarding property taxes.

3. What does the sold price history indicate?
The home sold in July 2024 for an estimated $44,500-$47,500. This recent sale, at a price above its assessed value, suggests a active and competitive market for homes on this street.

4. Who might this home not be suitable for?
It may not suit buyers seeking a modern, open-concept layout or extensive recent upgrades throughout the main floor, given its 1965 construction. Those prioritizing a newer home or an attached garage might also look elsewhere.

5. Are there any obvious concerns with the property’s age?
Being 61 years old, prospective buyers should pay special attention to the condition of major aging components during an inspection, such as the roof, foundation, plumbing, and electrical systems, even with a renovated basement.