Property Overview: 58 St Edmund's Bay, Fort Richmond, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 58 St Edmund's Bay presents a distinct profile within the Fort Richmond neighborhood. Its key characteristic is its value proposition: with a living area of 933 sq ft, it is notably more compact than most homes on its street and in the immediate area, yet it sits on a generous 6,313 sq ft lot that is above average citywide. The home was built in 1972 and features an attached garage and a renovated basement.

The appeal lies in its efficiency and lot size. It offers a manageable footprint for those seeking lower maintenance without sacrificing outdoor space, making the large yard a standout private asset. The renovated basement adds functional living space. Its assessed value is significantly below the average for its street, suggesting a potentially accessible entry point into a established area.

This property would best suit first-time buyers, downsizers, or pragmatic investors looking for a cost-effective foothold in Fort Richmond. It’s for those who prioritize land over interior square footage and see the value in a home that, while smaller than its neighbors, has been updated and offers room to grow outdoors or potentially expand.

Section 2: Frequently Asked Questions

1. How does the home's size compare practically?
At 933 sq ft of living area, the home is about 500 sq ft smaller than the average on its street. This indicates a efficient, likely easier-to-maintain layout, but may mean tighter living quarters compared to neighboring houses.

2. What does the "below average" assessed value indicate?
The assessed value is in the bottom tier on this specific street. This can reflect the home's smaller size and older construction relative to neighbors, not necessarily its condition. It often translates to a lower property tax burden and can represent a value opportunity in a desirable location.

3. Is the large lot a benefit for future expansion?
The 6,313 sq ft lot is a key feature, significantly larger than the Winnipeg average. This provides ample private outdoor space and could, subject to zoning and permits, offer potential for additions, a garden, or other landscaping projects not possible on a standard lot.

4. The home sold in 2017 for a much lower price. What does that mean?
The sold price from 2017 is a historical data point and reflects the market conditions and the home's state at that time. The current assessed value and market price are determined by present-day factors, including the renovated basement and changes in the local real estate market.

5. What is the neighborhood context of Fort Richmond?
Fort Richmond is a mature, established neighborhood near the University of Manitoba. This location offers stability and convenience. The data shows this street consists primarily of homes from the early 1970s, suggesting a consistent streetscape and likely a community of long-term residents.