Property Overview: 31 Tulane Bay, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This one-storey home in Fort Richmond is defined by a clear trade-off: its living space is modest and below average for the immediate area, but it sits on a significantly larger-than-average lot. Built in 1965, the 1,064 sqft house features a renovated basement but no garage or pool. Its assessed value positions it as a more affordable option within the neighbourhood.

The primary appeal lies in its land. The 7,699 sqft lot size ranks in the top 14% on its own street and the top 12% city-wide, offering substantial outdoor space and future potential that is uncommon for homes in this price bracket. This makes it a practical canvas for buyers who prioritize yard space, gardening, expansion, or simply room to breathe over a large existing footprint.

This property would suit first-time buyers or downsizers seeking an entry point into a established neighbourhood like Fort Richmond, particularly those who value outdoor privacy and are comfortable with a home that may require updates. It’s also a strategic fit for a long-term investor or owner who views the land itself as the core asset, with the existing house serving as a functional starting point.

Frequently Asked Questions

1. Is the sold price history accurate?
The listed sold price range is based on available public data. For the exact historical sold price, you can request it via email from the source; they provide this detail manually and do not use the request for unsolicited marketing.

2. How does the home’s size compare to others?
At 1,064 sqft, the living area is below the average for both Tulane Bay and the wider Fort Richmond area. However, it is close to the city-wide average, indicating the home’s size is more typical of Winnipeg overall than it is of its specific neighbourhood.

3. What does the "below average" assessed value mean?
The assessed value is below the average for Fort Richmond, which generally suggests a lower property tax burden. This often reflects the home’s smaller size and vintage, but not necessarily its market price, which can be influenced by other factors like the desirable lot size.

4. What are the implications of the large lot?
The above-average lot size (7,699 sqft) is a standout feature. It offers rare space for additions, a large garden, recreational areas, or future development (subject to zoning bylaws). It provides a sense of space that is increasingly hard to find in this price range.

5. There’s a nearby home at 79 Tulane Bay with a similar size but a much higher assessed value. Why?
Property assessments consider multiple factors beyond square footage, including condition, renovations, outbuildings, and specific lot attributes. The significant difference in assessed value between two similarly sized homes on the same street likely points to major differences in updates, finishes, or other improvements not detailed in the basic metrics.