Property Overview & Key Characteristics
This well-situated one-storey home at 272 Fernbank Avenue in Winnipeg's Riverbend neighbourhood presents a practical and comfortable living option. Its key appeal lies in a combination of generous outdoor space and a solid, established community setting. The lot is notably spacious at 4,682 sq ft, ranking in the top 11% on its street, offering ample room for gardening, play, or future expansion. The home itself features a renovated basement, adding valuable finished living space to the 1,094 sq ft main floor. A detached garage provides flexible storage or workshop potential.
Built in 1987, the home is newer than most in Winnipeg but is of a vintage where major components may be due for updates, a factor reflected in its assessed value. It suits first-time buyers or downsizers looking for a manageable single-level layout in a mature neighbourhood. It also appeals to value-conscious buyers who prioritize land size over a newer build, seeing potential in the property's footprint rather than a turn-key finish. The rankings suggest it's a "middle-of-the-pack" property for its area—not the largest or newest, but offering stability without a premium price tag.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
The listing confirms the basement is renovated but does not specify the scope. Viewing is essential to determine the finish quality, ceiling height, legal egress, and whether it includes a bathroom or kitchenette.
2. How does the assessed value relate to the likely selling price?
The assessed value of $40.30k is for municipal tax purposes and is typically much lower than market value. Market price is determined by recent sales of comparable homes, buyer demand, and the property's condition.
3. The home is older than many on the street. Should I be concerned?
While its 1987 build date is older than 83% of homes on Fernbank Avenue, it is newer than 72% of homes in Winnipeg overall. This indicates a well-established street with newer infill, suggesting a neighbourhood in transition. A thorough inspection is advised to assess the condition of the roof, windows, and major systems.
4. Who would this property not suit?
It may not suit buyers seeking a modern, open-concept layout or those unwilling to undertake potential updates. The one-storey design with a basement also means all living space is on one level, which could be a pro or con depending on needs.
5. What are the advantages of a detached garage?
A detached garage offers flexibility—it can be used as a workshop or studio without concerns about noise or fumes entering the house. It also presents future potential (e.g., conversion to a laneway suite, subject to zoning). However, it is less convenient in winter than an attached garage.