Property Overview: 940 Summerside Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 940 Summerside Avenue is a compact, efficiently designed property built in 1986. Its key characteristic is its modest scale, with a living area of 703 sqft, which is notably smaller than most homes in Fort Richmond and across Winnipeg. This is balanced by a renovated basement and a detached garage. The lot size is also smaller than area norms but is in line with others on the street.
The appeal lies in its practicality and position as an accessible entry point into the established Fort Richmond neighbourhood. For its area, it is a newer build (ranking in the top 3% locally for year built), suggesting potentially fewer major age-related concerns than older area homes. The recently renovated basement adds functional living space. Its assessed value is modest compared to the neighbourhood, yet average city-wide, indicating a relatively affordable option in a desirable context.
This property would best suit first-time homebuyers, downsizers, or pragmatic investors seeking a lower-maintenance footprint. It’s for those who prioritize location and a modernized foundation over square footage, and who see the value in a home that is newer than most in its immediate community. It represents a chance to secure a home in a well-regarded area without the premium typically attached to larger lots and houses.
Section 2: Frequently Asked Questions (FAQs)
1. Is the living space too small?
At 703 sqft above grade, the living area is compact. The renovated basement provides additional space, making the total functional area more comfortable. It’s ideal for individuals, couples, or small families comfortable with efficient living.
2. How does the assessed value affect property taxes?
With an assessed value significantly below the neighbourhood average but around the city-wide median, this suggests property taxes may be comparatively lower for Fort Richmond, though other factors also apply.
3. What does the "newer build" ranking mean for this home?
Built in 1986, this home is newer than 97% of homes in Fort Richmond. This can be an advantage, potentially meaning updates to building materials, electrical systems, and insulation that align with more modern standards than much older area homes.
4. Is the smaller lot a disadvantage?
The 3,888 sqft lot is smaller than the Fort Richmond average, which means less yard maintenance. For buyers seeking a manageable outdoor space without extensive upkeep, this can be a practical benefit rather than a drawback.
5. How does this home compare to others on the street?
The data shows this home is very comparable to its immediate neighbours on Summerside Avenue in terms of year built, lot size, and assessed value. Its living area is slightly below the street’s average, indicating it is among the more compact options on the block.