Property Overview & Key Characteristics
This well-maintained one-storey home in Fort Richmond offers solid value and a practical layout. Its primary appeal lies in its above-average living space (1,490 sq ft) and a recently renovated basement, providing flexible room for a growing family, a home office, or recreation. Built in 1973, the home is newer than many in the wider city and sits on a generous, private lot (nearly 7,000 sq ft) that is larger than the Winnipeg average. The property consistently ranks above average for its assessed value compared to homes on its street, in the neighbourhood, and across the city, suggesting a strong intrinsic value for the area.
It would suit first-time buyers or young families looking for move-in-ready space without the premium of a brand-new build. It’s also a sensible choice for downsizers seeking single-level living but who aren’t willing to compromise on room for guests or hobbies. A thoughtful perspective is that while it lacks a garage, the large lot presents a clear opportunity for adding one or a substantial shed, which could be a worthwhile future investment.
Frequently Asked Questions
1. How does the property’s value compare to recent sales?
Based on available data, the home last sold in 2021 for a price that placed it in the top 20% for its street, indicating it has been a desirable property in recent years.
2. What are the implications of not having a garage?
While off-street parking may be on the driveway, the lack of a garage means factoring in the cost and feasibility of adding one later. However, the large lot size is a significant advantage for such an addition.
3. The assessed value seems low. Is that accurate?
The assessed values shown are for municipal tax purposes and are typically much lower than market value. The key takeaway is its ranking—it’s consistently assessed higher than many comparable properties, which is a positive indicator.
4. What is the neighbourhood like?
Located in Fort Richmond, it’s a mature, established community near the University of Manitoba. The listing shows other homes on Prescot Road are of similar vintage and value, suggesting a stable, consistent streetscape.
5. Is the basement renovation a full legal suite?
The details state the basement is renovated but do not specify it as a legal secondary suite. Buyers should verify with the seller or local authorities if a rental suite is a requirement, as permits and egress standards must be met.