Property Overview: 673 Patricia Avenue, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1964, offering 1,090 sqft of living space on a 5,827 sqft lot. Its key feature is a renovated basement, adding valuable finished space. The home lacks a garage or pool. Its appeal lies in its practicality and position as a relatively affordable entry point into the established Fort Richmond neighbourhood. The lot size, while below average for the immediate area, is still generous by city-wide standards, offering good outdoor potential.
The property suits first-time buyers or downsizers seeking a manageable, single-level layout without the premium price of a larger or newer home. Its below-average assessed value for the street and area suggests a potentially lower property tax burden, which is a practical advantage. A thoughtful perspective is that this home represents a "value-play" in the neighbourhood—it’s not the biggest or newest on the block, but it provides the location and essentials, with the renovated basement being a clear move-in ready bonus. It’s for a buyer who prioritizes community and function over prestige or expansive square footage.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This would be a key point to clarify with the seller or agent to understand the quality and functionality of the space.
2. Is there potential to add a garage in the future?
Given the lot size is below the area average but still substantial, there may be space for a driveway and detached garage, subject to local zoning bylaws and setback requirements. A survey and permit inquiry would be necessary.
3. How do the property taxes compare?
With an assessed value significantly below the averages for both Patricia Avenue and Fort Richmond, the municipal property taxes for this home are likely lower than those for many neighbouring properties.
4. What is the typical price range for homes on this street?
Recent sales data for comparable homes on Patricia Avenue (with similar size, age, and value) have historically ranged from approximately $29,500 to $32,500, based on a sale in late 2021. Current market conditions will affect today’s value.
5. Are the mechanical systems (roof, furnace, etc.) original?
As a home built in 1964, major components may have been updated over time. The age and condition of the roof, heating system, windows, and plumbing should be verified through a professional home inspection.