Property Overview: 87 Leeds Avenue, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a practical opportunity with several distinct advantages. Its primary appeal lies in a combination of generous outdoor space and a recently renovated basement, offering immediate livability and expansion potential. The 7,197 sqft lot is notably larger than most in the immediate area, ranking in the top 30% for its street and neighbourhood, which is a significant asset for gardening, recreation, or future expansion.
Built in 1973, the house itself is older but stands out as one of the newest constructions on its block, ranking in the top 2% for year built on Leeds Avenue. The living area of 1,274 sqft is comfortably above average for the street. The attached garage and renovated basement add functional living and storage space. From an investment perspective, its assessed value positions it well within its community, comparing favourably against similar homes in the area.
This property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature neighbourhood. It’s also a sensible fit for a buyer who values a larger lot over a larger house, seeing the land as a long-term asset or a canvas for outdoor projects. The renovated basement adds value for those needing a flexible space for a home office, family room, or guest suite without undertaking major work.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this era often means finished living space with proper flooring, drywall, and lighting. It’s important to confirm the quality of the renovation, any moisture-proofing measures, and whether it includes a bathroom or kitchenette.
2. How does the larger lot size benefit me?
Beyond providing more private outdoor space, a lot size in the top tier for the area can offer better privacy, room for additions like a deck or shed, and potentially stronger value retention. It’s a feature that is increasingly rare in established neighbourhoods.
3. The house is over 50 years old. What should I be mindful of?
While the home is newer than many on its street, key systems like the roof, plumbing, electrical, and heating are likely at or beyond their typical lifespans. An inspection is crucial to understand the condition and any upcoming capital expenses.
4. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is often lower than market value. Comparing it to recent sale prices of similar homes (like those listed as "often also viewed") provides a more accurate picture of the current market.
5. What is the neighbourhood like for daily living?
Fort Richmond is a mature, family-oriented community near the University of Manitoba. It offers a mix of residential streets, schools, and local amenities. The specific location on Leeds Avenue provides a quiet, settled setting while remaining convenient to major routes and services.