Property Overview: 55 Tunis Bay, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This 1965-built, four-level split home in Fort Richmond offers 1,567 sqft of living space on a 5,869 sqft lot. Its key features include a renovated basement and a detached garage. The home presents a specific value proposition: its living space is above average for both the neighbourhood and the city, yet its assessed value is notably below average for its immediate street. This suggests a potential value opportunity for a buyer comfortable with a home from the mid-60s.

The appeal lies in its space efficiency and location. It offers more interior room than many city-wide counterparts, making it practical for a small family or those who value distinct living zones across its split levels. The renovated basement adds modern, functional space. The lot, while smaller than others on Tunis Bay, is near the city-wide average, requiring less maintenance. This property would suit a pragmatic first-time homebuyer, a downsizer seeking single-level living within a multi-level layout, or an investor looking for a character home with updated fundamentals in a established neighbourhood. It’s for those who prioritize interior space and a lower entry point over having the largest yard on the block.

Section 2: Frequently Asked Questions

1. Is the below-average assessment on the street a red flag?
Not necessarily. It often reflects the home’s specific attributes (like lot size or original features) compared to neighbours. It can indicate a more affordable entry point into a desirable street, but a professional inspection is always recommended to understand the home's full condition.

2. What are the considerations with a four-level split?
This layout offers good separation of living and sleeping areas. However, it involves multiple staircases, which may not suit those with mobility concerns or very young children. It can also create unique furniture placement challenges.

3. How does the lot size impact use?
At just under 6,000 sqft, the yard is manageable and low-maintenance compared to larger lots on the street. It’s sufficient for a patio, garden, or play area but may not accommodate extensive additions or a large pool. This can be a positive for those seeking less outdoor upkeep.

4. What does the sold price history indicate?
The last recorded sale (2021) fell within a range typical for the area at that time. The fact that its current assessed value remains below street averages suggests it may not have seen the same level of premium updates as some neighbours, reinforcing its value-oriented position.

5. Who might this home not suit?
Buyers seeking a modern, open-concept layout or a large, sprawling yard may find this property less ideal. Similarly, those looking for a home with top-tier assessments or the largest lot on the street for future expansion might want to compare other options in the area.