Property Overview
This one-storey home in Fort Richmond’s Loyola Bay area presents a practical, low-maintenance living option. Built in 1969, its key feature is a renovated basement, adding functional living space to the 1,167 sqft footprint. The home sits on a 6,377 sqft lot, which is notably above average in size compared to the wider city. There is no garage or pool.
The appeal lies in its efficient use of space and its position within a mature neighbourhood. The living area is well above average for its immediate street, suggesting a relatively spacious home for the area. With a modest assessed value that sits below the Fort Richmond average, it represents a potentially accessible entry point into the market. The renovated basement adds immediate utility without the need for a major project.
This property would suit first-time buyers or downsizers seeking a manageable, single-level home in an established community. It’s also a sensible fit for value-focused buyers who prioritize lot size over a large interior or attached garage, and for those who appreciate a home where foundational updates like the basement have already been addressed.
Frequently Asked Questions
1. How does the home’s size compare to others nearby?
The living area is 1,167 sqft, which ranks in the top 9% on its own street, making it notably more spacious than most direct neighbours. Compared to the broader Fort Richmond area and the city, it is around the average size.
2. What is the significance of the assessed value being below the area average?
The assessed value is below the average for Fort Richmond. This doesn't dictate market price, but it can indicate a potentially lower property tax burden relative to the neighbourhood, which is a point of value for cost-conscious owners.
3. Is the lack of a garage a major drawback?
This depends on buyer needs. The above-average lot size offers flexibility for potential future parking solutions or storage sheds. For those who primarily use street parking or do not require vehicle storage, it may not be a significant issue.
4. The home was built in 1969. What should I consider?
While the basement has been renovated, a home of this age will have other aging components. A thorough inspection of the roof, windows, plumbing, and electrical systems is essential to understand any upcoming maintenance or updates required beyond the cosmetic renovations.
5. You mention the lot size is above average city-wide. What are the advantages?
The 6,377 sqft lot is larger than most in Winnipeg. This provides more private outdoor space, better potential for gardening, landscaping, or adding a deck, and generally a greater sense of openness than newer, more densely packed subdivisions.