Property Overview: 264 Rochester Avenue, Fort Richmond

This one-storey home in Fort Richmond presents a practical and straightforward living opportunity. Its key appeal lies in a balanced set of characteristics rather than standout luxury. The 1,240 sqft living space is consistently average for the street, neighbourhood, and city, suggesting a comfortable size that meets typical needs without excess. A recently renovated basement adds modern, functional space. The attached garage and lack of a pool indicate a low-maintenance, utilitarian focus.

The property’s more distinctive feature is its above-average land area of over 7,100 sqft, placing it in the top 16% on its street and city-wide. This offers valuable outdoor space and potential in a neighbourhood of mostly standard lots. Built in 1974, it’s a relatively newer home for the city, potentially meaning fewer major age-related concerns than much of Winnipeg’s housing stock. The assessed value is modest compared to many city homes, hinting at a manageable property tax burden.

This home would suit first-time buyers, downsizers, or practical investors seeking a solid, no-frills property in a established neighbourhood. It’s for those who value a larger yard over a larger house and appreciate a home that is functionally average with one clear advantage: the land it sits on.

Frequently Asked Questions

1. Is this a good value compared to the neighbourhood?
The data suggests it’s a middle-of-the-road property in Fort Richmond in terms of size, age, and assessed value. Its value proposition is anchored by its larger-than-average lot size, which is a tangible asset not reflected in an average price.

2. What does the “renovated basement” include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent, as it could range from updated finishes to a fully developed living space with proper permits.

3. How does the sold price history work?
The listed sold price is a range based on public data. To obtain the exact historical sale price, you must request it via email from the site. They state this is a manual process with a same-day reply and no marketing spam.

4. The assessed value seems low. Why?
Manitoba’s property assessments are not direct market valuations. A $40,600 assessment is not the home’s market price but a value used for calculating municipal taxes. It often seems disconnected from current market sale prices.

5. What are the less obvious pros and cons here?
A thoughtful perspective: A home that ranks “average” in most metrics can be a stable, predictable purchase without the premium or drama of a standout property. The large lot is a long-term asset for gardening, expansion, or simply privacy. Conversely, a truly “average” home in a competitive market may lack the defining features that drive rapid appreciation or quick resale.