Property Summary: 721 Patricia Avenue, Fort Richmond, Winnipeg
Key Characteristics & Buyer Appeal
This well-situated one-storey home in Fort Richmond presents a practical and comfortable living space. With 1,232 sqft of living area, it sits around the average size for the neighbourhood, offering a manageable footprint. A key feature is the renovated basement, adding valuable finished space. The property stands out with a notably larger-than-average citywide lot of 6,786 sqft, providing excellent outdoor potential, and a detached garage. Built in 1971, it is newer than many homes on its street, which can be a positive for systems and structure.
The appeal lies in its balanced, grounded profile. It’s not an outlier in size or assessed value, but it offers solid, above-average attributes in land size and relative age for the immediate area. This suggests a property that has been maintained and occupies a desirable spot on a street of similar homes. It would suit first-time buyers, downsizers, or practical investors looking for a turnkey, single-level layout in a mature neighbourhood. The generous lot is a significant asset for those valuing private outdoor space, gardening, or future expansion, offering more room than what's typically found in many city lots.
Frequently Asked Questions
1. How does this home’s value compare to recent sales on the street?
Based on available data, the home last sold in April 2022 for an estimated range of $495,000 - $525,000. This was a top-tier sale price for Patricia Avenue at that time, indicating strong buyer interest. Direct comparisons with nearby homes from the same era show a slightly higher assessed value, suggesting it may have been updated or maintained to a good standard.
2. What does "renovated basement" typically mean for a home of this age?
In a 1971 home, a renovated basement often includes finished living areas such as a family room, bedroom, or bathroom. It’s important to clarify the scope, permits, and the quality of the finishing, as well as to check for any lingering moisture concerns common in older foundations.
3. Is the lot size a major advantage?
Yes. At nearly 6,800 sqft, the lot is above average citywide. This provides more privacy, yard space, and potential for additions, decks, or gardens than many standard 5,000 sqft lots. It’s a less obvious but valuable feature that adds long-term utility and appeal.
4. Who might this property not suit?
Buyers seeking a brand-new, low-maintenance home or a very large interior footprint may find it less suitable. The living area is average for the area, and a home from the 1970s will likely require ongoing updates to windows, roofing, or mechanical systems over time.
5. How can I get the exact historical sale price?
The exact sold price is not publicly posted. You can request it directly via the "Get exact sold price history" feature on the listing page. The service provider manually sends the accurate figure by email, typically by the end of the same day.