635 Silverstone Avenue

Property Overview: 635 Silverstone Avenue, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Fort Richmond presents a practical opportunity with a few distinct advantages. Its key characteristic is a generous 6,473 sqft lot, which is notably larger than many comparable properties both on its street and city-wide. This offers valuable outdoor space and potential. The home itself, built in 1952, is older than most in the immediate area but features a renovated basement, adding functional living space to the 1,176 sqft footprint.

The appeal lies in its grounded value proposition. It’s a home that sits around average for living area and assessed value in broader comparisons, suggesting a market-aligned price, but it stands out for its land size. This combination suits buyers looking for a solid entry point into the neighbourhood or those who prioritize yard space over a newer build. It would particularly suit a first-time buyer, a downsizer seeking single-level living, or a pragmatic investor who sees value in the lot size and the updated basement, understanding that an older home may come with maintenance considerations.

A less obvious perspective is that its older vintage, while requiring due diligence, often comes with mature landscaping and established community character that newer subdivisions lack. Its "around average" metrics across many categories indicate a property less likely to be subject to bidding frenzies, offering a more measured purchasing process.

Section 2: Frequently Asked Questions

1. Is the lot size a major advantage?
Yes. The land area is in the top 15% on Silverstone Avenue and the top 23% city-wide, making it a significant feature for gardening, expansion, or simply enjoying more private outdoor space than is typical.

2. How does the age of the home affect its value?
Built in 1952, it is older than most homes in Fort Richmond. This means potential buyers should budget for age-related maintenance. However, this is balanced by the renovated basement and the fact that its assessed value remains competitive in wider city comparisons.

3. What does "around average" for living space mean?
With 1,176 sqft, the home provides typical space for a one-storey design in Winnipeg. It’s not exceptionally large or small, making it a functional layout for a small family, couple, or individual, especially with the additional renovated basement area.

4. Why is the assessed value higher in the neighbourhood ranking?
The data shows the assessed value is below average for Fort Richmond specifically. This can sometimes reflect the older age of the home compared to the neighbourhood average, or different assessment models. It’s important to evaluate the listing price against recent sales of similar properties, not just assessment values.

5. Is there a garage or pool?
No, the property does not include a garage or a swimming pool. The ample lot does provide room for potential future garage construction, subject to local bylaws and permits.