79 Purdue Bay

Property Overview: 79 Purdue Bay, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1968, situated on a standard-sized lot in the established Fort Richmond neighbourhood. With 1,160 sqft of living space, it is notably smaller than most homes on its own street and in the immediate area, but aligns more closely with average city-wide sizes. A key updated feature is its renovated basement, adding valuable finished space. The home does not have a garage or pool.

Its primary appeal lies in its value proposition and low property tax base. The assessed value is significantly below average for both the street and Fort Richmond, suggesting a potentially lower entry price and certainly lower annual property taxes compared to neighbours—a tangible, long-term financial benefit. This setup is ideal for first-time buyers, downsizers, or practical investors seeking an affordable foothold in a mature neighbourhood. The renovated basement adds immediate utility without the need for a major project. A thoughtful perspective for the right buyer is viewing the smaller main footprint not as a limitation, but as a catalyst for efficient living and lower utility costs, with the basement providing flexible space for hobbies, guests, or storage.

Frequently Asked Questions

1. Why is the assessed value so much lower than neighbouring homes?
While the exact municipal assessment formula is complex, the primary driver is likely the home's smaller living area relative to others on the street and in Fort Richmond. A below-average assessed value typically results in lower property taxes.

2. What does "renovated basement" imply?
It indicates the below-ground space has been finished for living use, but the specifics (materials, permits, ceiling height, moisture control) are not detailed. This should be verified during a viewing and inspection.

3. Is the lack of a garage a significant drawback?
This depends on the buyer's needs. Many homes in older neighbourhoods lack garages. The lot provides space for driveway parking. For some, this is a trade-off for the area's affordability; for others, it may be a dealbreaker.

4. How does the sold price history help determine current value?
The home last sold between $29.5k-$32.5k in late 2017. This historical data provides a benchmark, but current market conditions, interest rates, and the state of the renovation have a greater impact on today's value.

5. The home ranks "below average" for size and value on its street. Is this a concern?
Not inherently. This statistical context is useful for comparison but doesn't speak to the home's condition or livability. For the target buyer, these rankings highlight the home's position as a more affordable option on a street of presumably larger, higher-value properties.