Property Overview

44 Tulane Bay is a compact, one-storey home in Fort Richmond, built in 1967. With 800 square feet of living space, it is notably smaller than most homes on its street and in the wider area. Its key feature is a renovated basement, adding functional space. The property sits on a roughly 5,600 sqft lot, which is close to the city-wide average. A standout point is its assessed value of $33,800, which is low for the immediate neighbourhood but aligns with the average when compared city-wide. There is no garage or pool.

Section 1: Key Characteristics & Appeal

This home’s primary appeal lies in its affordability and efficiency. It presents a clear entry point into the Fort Richmond neighbourhood, which is often sought-after for its proximity to the University of Manitoba and major routes. The renovated basement is a significant functional upgrade, offering flexibility for storage, a recreation room, or a separate living area.

The property would suit first-time buyers, investors, or downsizers seeking minimal upkeep and lower property taxes. Its smaller size makes it manageable and cost-effective to maintain and heat. A less obvious perspective is its potential as a strategic hold; the lot size is consistent with city norms, offering future redevelopment options that are not necessarily available on smaller parcels, which could be of interest to a buyer with a long-term view.

Section 2: Frequently Asked Questions

1. Is the low assessed value a concern?
Not necessarily. It indicates lower municipal property taxes, which is a benefit for the owner. The value is consistent with many homes across Winnipeg, though it is below average for Fort Richmond specifically.

2. How does the living area compare practically?
At 800 sqft above grade, the living space is compact. The renovated basement effectively doubles the usable area, making the home feel more spacious than the main floor square footage suggests.

3. What does the "below average" ranking for lot size mean?
While the lot is smaller than others on Tulane Bay, at 5,641 sqft it is actually near the city-wide average. This means you still get a standard-sized yard without the premium of an exceptionally large lot.

4. Who might this property not suit?
It may not suit families requiring multiple bedrooms on one level, those needing ample storage or vehicle shelter (as there is no garage), or buyers who prioritize immediate equity in a home that already aligns with higher neighbourhood values.

5. Are the nearby comparable homes similar?
The listed homes with similar assessed values are in different neighbourhoods, highlighting that 44 Tulane Bay offers a Fort Richmond location at a price point more common in other areas. The nearby homes on Tulane Bay itself are generally larger and have higher assessments.