Property Overview: 74 Newcastle Road, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a practical and comfortable living proposition. Its key characteristic is balance: with 1,317 sqft of living space and a 7,034 sqft lot, it sits comfortably around the average for its immediate area, offering ample room without being excessive. The home’s standout feature is its above-average assessed value relative to its peers, ranking in the top 21-29% across various comparisons, which suggests it may offer finishes, condition, or location advantages not fully captured by square footage alone. A significant, renovated basement adds functional living space. The property also benefits from substantial garage parking with both attached and detached options.
Its appeal lies in its established neighbourhood setting, with a build year (1973) that is among the newest on its street. The combination of a generous lot size—which is above average city-wide—and the dual garage setup is ideal for families needing space for vehicles, storage, or hobbies. This home would suit practical buyers looking for a move-in ready, single-level layout in a mature area, particularly those who value private outdoor space and plentiful parking over a brand-new build. It’s a solid choice for first-time homeowners seeking a foothold in the market or downsizers wanting a manageable property without sacrificing yard space.
Frequently Asked Questions
1. How does the assessed value compare to the likely selling price?
The assessed value is $450k, which places the property in the top tier for its area. Market conditions, the home’s updated condition, and buyer demand will ultimately determine the final sale price, but this assessment indicates a strong municipal valuation.
2. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income potential.
3. What are the annual property taxes?
Taxes are not listed but can be estimated using the $450k assessed value and Winnipeg’s current mill rate. Consulting the city’s tax calculator or a real estate agent will provide an accurate figure.
4. Why does a one-storey home have both an attached and a detached garage?
This less common setup offers significant flexibility. It could provide dedicated workshop space, secure parking for multiple vehicles, or separate storage, which is a major asset for hobbyists or families with several drivers.
5. How does the lot size impact future potential?
At over 7,000 sqft, the lot is larger than the Winnipeg average. This not only provides generous private outdoor space but could also offer future potential for additions, such as a sunroom or expanded deck, subject to local zoning bylaws.