Property Overview: 39 Ritchie Street, Winnipeg
Section 1: Key Characteristics & Appeal
This 680 sqft bungalow, built in 1985, sits on a roughly 3,000 sqft lot in Mandalay West. Its key characteristic is its position as a modest, entry-level property within the city. The appeal lies in its affordability and lower property tax burden, as reflected in its assessed value of $28,900, which is significantly below both neighbourhood and city averages. The home last sold between $200k-$250k in 2018.
It suits first-time buyers or investors seeking a straightforward, low-cost entry into the Winnipeg market. The lot size is average for Ritchie Street itself, offering standard outdoor space for the immediate area. A thoughtful perspective is that while the living space is compact, its below-average costs could free up budget for renovations or serve as a manageable rental property. It represents a practical, no-frills option in a market where similar-sized homes often carry higher valuations.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
Assessed value is for municipal tax purposes and is not market value. This low assessment indicates significantly lower annual property taxes compared to most Winnipeg homes, which is a key ongoing cost savings.
2. How does the living area compare to nearby homes?
At 680 sqft, the home is smaller than most on Ritchie Street and in the wider Mandalay West area. It is a compact bungalow, ideal for minimalists or those viewing it as a starter home.
3. What does the "Top 97%" ranking for living area mean?
This statistic means that 97% of homes in Mandalay West are larger. It clearly indicates this is one of the neighbourhood's smaller properties, which is a primary factor in its accessible price point.
4. Is the lot size a positive?
On Ritchie Street, the lot is near the area average. However, compared to the wider city, it is smaller. This means less yard maintenance but also less private outdoor space than many detached homes in Winnipeg.
5. How can I find out the exact past sale price?
The provided sale price is a public data range. The listing service offers to provide the exact figure via email upon request, which they handle manually without using your address for marketing spam.