Property Overview: 22 Thornhill Bay, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This is a practical, one-storey home in the established Fort Richmond neighborhood. Built in 1976, it offers 1,143 sqft of living space with a renovated basement, sitting on a roughly 5,900 sqft lot. There is no garage or pool. The home’s appeal lies in its solid foundation and recent basement update within a mature, no-fuss community. Its size and layout are straightforward, offering a manageable footprint.

The data presents a nuanced picture: while the living area is modest compared to immediate neighbors, its assessed value is consistent for the street and area. This suggests the property is priced appropriately for what it offers, without the premium or discount that can come with outliers. The lot size, while below the neighborhood average, is still generous by wider city standards, offering decent outdoor space.

This home would suit first-time buyers, downsizers, or pragmatic investors looking for a turnkey, low-maintenance property in a stable academic-family area near the University of Manitoba. It’s for those who value function and location over size or luxury features. A thoughtful perspective is that a home of average metrics in a desirable area can often represent a lower-risk, stable investment, as it aligns closely with the community’s established norm.

Frequently Asked Questions

1. How does the size of this home compare to others nearby?
At 1,143 sqft, the living area is below the current average for both Thornhill Bay and the wider Fort Richmond area. This indicates a more compact, efficient layout compared to many neighboring homes.

2. What does the assessed value tell us about the property?
The assessed value is consistently "around average" at the street, neighborhood, and city-wide level. This suggests the property is not over- or under-valued relative to its core characteristics, providing a stable benchmark.

3. Is the lot size a disadvantage?
While the lot is below average for Fort Richmond, it is near the city-wide average. It provides a good amount of private outdoor space without the extensive maintenance of a larger lot, which can be a benefit for some buyers.

4. The home sold recently in late 2024. What does that history indicate?
The late 2024 sale price range shows the home sold at a value ranking higher than many recent sales on the same street. This recent transaction provides a clear, current market reference point.

5. What are the obvious trade-offs with this property?
The trade-offs are clear: you gain a renovated basement and a manageable, single-level layout in a prime area, but you compromise on above-ground square footage and features like a garage. It’s a value proposition centered on location and practicality.