Property Overview: 3 Laval Drive, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home in Winnipeg's Fort Richmond neighbourhood, built in 1965. Its primary appeal lies in its generous 7,077 sqft lot, which is notably larger than most comparable properties on its street and across the city. This presents a significant opportunity for expansion, gardening, or outdoor living. The home itself is modest in size at 1,012 sqft, with a renovated basement and an attached garage. Its assessed value is relatively average for the area, suggesting a stable, entry-level point in the market.

The property would suit first-time buyers, downsizers, or investors looking for a lower-maintenance footprint with the valuable asset of a large yard. It’s a practical choice for someone who values land size over interior square footage and sees potential in the outdoor space or a future renovation. A less obvious perspective is that, while the living area is below average, this can translate to lower utility costs and less upkeep, aligning with a simpler, more efficient lifestyle. The home’s recent sale in early 2023 also provides a clear, contemporary benchmark for its market value.

Section 2: Frequently Asked Questions

1. Is the house too small?
At 1,012 sqft, the living area is below average for the neighbourhood. However, the renovated basement adds functional space, and the very large lot offers room for potential additions, making it a project-friendly property for the right buyer.

2. What does the "below average" ranking for living area mean?
This statistical comparison shows the home’s interior size ranks in the bottom 15-30% compared to similar homes in Fort Richmond. It confirms the home is compact, with the trade-off being the above-average land size.

3. Why is the land area a standout feature?
The lot is over 7,000 sqft, placing it in the top 12% on Laval Drive. This is a significant asset, offering more privacy, outdoor space, and future potential than most homes in its price range.

4. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes. The home sold for between $335,000 and $365,000 in February 2023, which is a more current and direct indicator of its market value.

5. What is the neighbourhood like?
Fort Richmond is a mature, established community near the University of Manitoba. It offers a mix of older and newer homes, with good access to amenities, parks, and major routes. The specific street data shows homes here are of a similar vintage and value.