Property Overview: 627 Silverstone Avenue, Fort Richmond, Winnipeg
Key Characteristics & Buyer Appeal
This one-storey home in Fort Richmond is defined by its generous, above-average lot size of 6,472 sqft, offering more outdoor space than most comparable properties on its street and across Winnipeg. The home itself is modest in size at 858 sqft of living area, placing it below average for the neighbourhood, and it features a renovated basement and a detached garage. Built in 1956, it is older than many area homes. Its assessed value is around the average for the street and city, but below average for Fort Richmond specifically, suggesting it may represent a value proposition within this desirable area.
The primary appeal lies in its land potential. The large lot in a mature neighbourhood is a significant asset for buyers interested in gardening, outdoor living, or future expansion. The renovated basement adds functional living space. This property would best suit first-time buyers, downsizers, or value-focused investors seeking an entry point into Fort Richmond. It’s a home where the value is grounded more in the land and location than in the size or modernity of the structure, appealing to those who see potential over immediate perfection.
Frequently Asked Questions
1. Is the price competitive for the area?
Based on assessed value, the home is priced below the Fort Richmond average but aligns with the street and city averages. Recent sale history suggests it has traded at a value-oriented price point.
2. What does "below average" living area mean for daily life?
With 858 sqft (plus basement), the main floor is compact. Efficient use of space is key. The renovated basement effectively doubles the functional living area, making the overall footprint more comfortable.
3. How does the older year of construction (1956) affect the home?
While the core structure is mature, the renovated basement indicates updates have been made. Buyers should prioritize a thorough inspection to understand the condition of major aging components like the roof, plumbing, and electrical systems.
4. What are the advantages of a larger, above-average lot?
Beyond privacy and yard space, a larger lot in a established area like Fort Richmond offers long-term flexibility. It could accommodate additions, a larger garage, or simply provides a more substantial and valuable land asset compared to neighbouring properties.
5. Who typically buys homes like this in Fort Richmond?
This property attracts pragmatic buyers. It’s often a first step into the neighbourhood for those willing to grow into or update a home over time, or a practical choice for downsizers who want a manageable house without sacrificing outdoor space. Its value also draws attention from investors.