Property Overview: 140 Rochester Avenue, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This one-storey home in Fort Richmond is a practical and well-positioned property. Built in 1975, its living space of 1,396 sq ft is very typical for the area, offering comfortable room for a small family or couple. A key feature is the renovated basement, which adds valuable finished space. The property includes a detached garage and sits on a 6,158 sq ft lot, which is notably larger than the Winnipeg city average, providing good outdoor potential despite being slightly smaller than some immediate neighbors.

Its appeal lies in its solid, above-average assessed value relative to the neighborhood, suggesting it is well-maintained and perceived as a sound investment within the community. The home last sold in late 2021, providing a relatively recent market benchmark.

This property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature neighborhood. It’s also a sensible fit for value-oriented buyers who appreciate a home with recent updates (like the basement) and the utility of a larger lot, without the premium price of a newer or significantly larger house.

Frequently Asked Questions

1. How does the lot size compare to others?
While the lot is below the average size for Fort Richmond and Rochester Avenue specifically, it remains above the city-wide average. This means you get more outdoor space than many Winnipeg homes, but it may feel modest compared to some others on the same street.

2. What does the "above average" assessed value indicate?
An assessed value that ranks in the top 25% for the area generally reflects a combination of the home’s condition, improvements (like the renovated basement), and its desirability relative to nearby properties. It often signals a well-kept home in its market segment.

3. Is the living space considered large for the area?
No, it’s very average. The living area is almost identical to the local street and neighborhood averages. The value here isn’t in expansive square footage, but in the efficient use of that space and the additional finished area in the basement.

4. What can the 2021 sale price range tell me?
The previous sale price provides a crucial data point from a strong market period. Comparing it to the current assessed value can help gauge market trends and the property’s potential appreciation, but it should be considered alongside a current professional appraisal.

5. Who might find the detached garage particularly beneficial?
Beyond extra storage or vehicle protection, a detached garage can be ideal for hobbyists, those needing a workshop space, or anyone who prefers a clear separation between their living area and garage activities. It also offers flexibility for future projects like a garage suite, subject to zoning.