Property Overview
71 Lafayette Bay is a well-maintained, one-storey home in Fort Richmond, built in 1971. With 1,108 sqft of living space and a renovated basement, it sits on a 6,371 sqft lot. The home lacks a garage or pool. Its assessed value is $37,300, and it last sold in July 2023 for an estimated $36,500–$39,500.
Key Characteristics & Appeal
This home presents a practical opportunity in a mature neighbourhood. Its key appeal lies in its balance of space, condition, and value. The living area is very competitive for its immediate street and the home benefits from a renovated basement, adding functional space. While the assessed value is below average for Fort Richmond, this can indicate a potentially accessible entry point into the area.
The lot size is a notable feature—it's above average city-wide, offering good outdoor space relative to many Winnipeg homes, though it is slightly smaller than others on Lafayette Bay. The 1971 build date is newer than most on its street, suggesting potentially fewer immediate concerns than some older homes in the area.
This property would suit first-time buyers or downsizers seeking a manageable, single-level layout in a established community. It’s a home for those who value interior updates (like the basement) and yard space over features like a garage. The price positioning suggests it's for the value-conscious buyer comfortable with a home that may be simpler in its offerings but solid in its fundamentals.
Frequently Asked Questions
1. Is the below-average assessment for the area a concern?
Not necessarily. A lower assessment can mean lower property taxes. It often reflects the home’s specific characteristics (like the lack of a garage) compared to neighbourhood averages, not necessarily its condition or livability.
2. How does the lack of a garage affect daily life here?
It means relying on driveway parking and street parking for guests. For some buyers, this is a worthwhile trade-off for the price point and lot size. It’s important to consider vehicle storage and winter preparedness.
3. What does "renovated basement" typically imply for a 1971 home?
It usually means finished living space, but the scope and quality of renovations can vary. It’s essential to clarify what was updated (e.g., flooring, walls, electrical) and whether any necessary moisture-proofing or structural work was completed.
4. The home is newer than most on the street. What are the pros and cons?
A pro is potentially newer major components, like plumbing or wiring. A con is that its architectural style and layout might be simpler compared to older, sometimes more character-filled homes. It represents a pragmatic, no-frills era of construction.
5. How does the lot size compare, and what does it offer?
While smaller than some on its street, the lot is still generous by city standards. It provides good private outdoor space for gardening, play, or entertaining, which is a significant asset not found in many newer subdivisions.