Property Overview: 3 Vassar Road, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated one-storey home in Fort Richmond is a practical and solid offering. Built in 1971, its key appeal lies in its balance of space and value within a mature neighbourhood. The 1,360 sqft living area is notably efficient for its lot size, which, at 6,716 sqft, is above the city-wide average, offering good outdoor potential. A significant feature is the renovated basement, adding valuable finished space. The home presents with an attached garage and no pool, aligning with a low-maintenance lifestyle.

Its appeal is grounded in its strong positional value. The assessed value ranks above average for both the Fort Richmond area and city-wide, suggesting it is viewed as a sound asset relative to its peers. This isn't the largest home on its street, but it holds its own with a newer build year than most neighbours and a land parcel that provides a tangible sense of space uncommon in many city lots.

This property would suit first-time buyers or downsizers seeking a manageable, single-level layout in a stable community. It’s also a sensible fit for value-oriented investors or homeowners who prioritize a generous yard over excessive square footage and appreciate the upside of a move-in-ready basement. It’s for those who see the merit in a home that performs well on key municipal metrics rather than just superficial updates.

Section 2: Frequently Asked Questions

1. How does the home’s size compare to the area?
While the living space (1,360 sqft) is slightly below the Fort Richmond average, the lot size is significantly above the Winnipeg average. This suggests you’re acquiring more land and outdoor space relative to many city properties, with a efficiently designed floor plan.

2. What does the "above average" assessed value indicate?
The assessment ranks in the top 25% city-wide and top 20% in Fort Richmond. This typically reflects the property’s combined value factors—like lot size, building condition, and location—as perceived for tax purposes. It often indicates a well-regarded asset within its market segment.

3. The home was built in 1971. What should I consider?
A 55-year-old home means core systems (roof, plumbing, electrical) may need evaluation or could have been updated. The renovated basement is a positive, but the era of construction suggests checking for modern insulation standards and window efficiency. On the positive side, it’s newer than many neighbouring homes on Vassar Road.

4. Is the sold price history from 2018 relevant today?
The last known sale (2018) provides a historical baseline but does not reflect current market value. Market conditions, the basement renovation, and overall property trends have shifted significantly since then. It's most useful for understanding long-term ownership patterns, not for setting a current price.

5. Who would this property not suit as well?
Buyers seeking a brand-new, ultra-modern home with minimal upkeep may find the 1971 build requires more ongoing maintenance. Those prioritizing maximum interior square footage over land size might find better options. It’s also not configured for a pool or extensive aquatic recreation.