Property Overview: 66 Fordham Bay, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a compelling blend of space, location, and value. Built in 1968, the 1,488 sqft house sits on a generous 7,593 sqft lot, which is notably larger than many city-wide and local comparisons. A key feature is the renovated basement, adding functional living space. The home includes an attached garage.
The primary appeal lies in its strong positional value. While the living area is comfortably average for the neighbourhood, the property’s assessed value ranks in the top 3% on its own street and the top 12% in Fort Richmond, suggesting it is viewed favourably relative to its peers. This, combined with the above-average lot size, indicates solid underlying asset value. The recent sale history shows significant appreciation over the past decade.
This property would suit practical buyers looking for a established home in a convenient south Winnipeg neighbourhood. It’s ideal for those who value interior updates (like the finished basement) and ample outdoor space more than a modern facade. It also appeals to value-conscious buyers who recognize the advantage of a high assessment relative to immediate comparables, which can be a marker of long-term equity.
Frequently Asked Questions
1. What does the high assessed value ranking actually mean?
It means the municipal property assessment for this home is higher than most similar homes on its street and in Fort Richmond. This can reflect desirable attributes not fully captured in square footage alone, such as lot size, renovations, or overall condition, but it also influences property tax calculations.
2. Is the renovated basement a legal suite?
The listing specifies a "renovated basement" but does not state it is a legal secondary suite. Buyers should verify its compliance with local zoning and building codes if they intend to use it as a rental or separate living area.
3. How does the lot size benefit a buyer?
The lot is larger than approximately 80-87% of properties in Fort Richmond. This provides more private outdoor space, potential for gardening, landscaping, or additions, and often contributes to the property's assessed value and desirability.
4. The home sold in 2022 and is now back on the market. Should I be concerned?
Not necessarily. A relatively short ownership period can happen for many personal reasons (job relocation, change in family circumstances). However, it is a standard and prudent step to have a thorough home inspection to understand the property's condition.
5. How does this home compare to the nearby "Worth viewing" property at 680 Patricia Avenue?
While in the same neighbourhood and of similar vintage, 66 Fordham Bay offers over 400 more sqft of living area, a significantly larger lot, and a higher assessed value. This suggests a different market position, likely at a different price point, catering to buyers seeking more space.