Property Overview

This one-and-a-half storey home, built in 1946, is situated on a standard city lot in Fort Richmond's University Crescent area. Its key appeal lies in its balance of a renovated basement and a living area that is squarely average for Winnipeg, offering a functional footprint without premium square footage. The property's assessed value is notably below average for its immediate neighborhood and Fort Richmond, which can signal different things: it may represent a value opportunity for a buyer, or it could reflect the home's age and smaller lot size relative to nearby properties. This is a straightforward, no-frills home—there is no garage or pool.

It would suit a first-time buyer, an investor, or a downsizer looking for an entry point into a stable neighborhood. The buyer should be comfortable with the character and potential maintenance considerations of an older home and value practical, updated spaces (like the basement) over expansive room sizes or a large yard. Its location offers the convenience of the Fort Richmond area, close to the University of Manitoba, without the price tag of newer or larger homes on the same street.

Frequently Asked Questions

1. Why is the assessed value so much lower than other homes on the street?
The assessment is likely lower due to a combination of the home's older age (1946), its smaller lot size compared to neighbors, and its more modest living area. This doesn't necessarily reflect the interior condition, especially with a renovated basement, but it does indicate the property is considered a more basic offering on a street with larger, potentially newer homes.

2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a main floor with principal rooms and a second floor under sloping roof lines, often creating cozy bedrooms with potentially reduced ceiling height in some areas. It's a classic Winnipeg design that maximizes space efficiently.

3. Is the smaller lot size a major drawback?
That depends on your priorities. The lot is around 5,000 sq ft, which is standard city-wide but is the smallest on University Crescent. It means less yard maintenance but also less private outdoor space. For those wanting a large garden or extensive landscaping, it's a limitation; for those seeking low-maintenance living, it can be a benefit.

4. The home sold in 2020 for a relatively low price. What does that mean for today's value?
The 2020 sale price reflects the market conditions and the property's state at that time. The renovated basement since then could add value. However, it's a useful data point showing the home has historically been priced as an affordable option in the area, a trend that may continue.

5. Who would this home NOT be suitable for?
It may not suit buyers looking for a modern, open-concept layout (common in newer builds), those requiring a garage, or families desiring a very large, flat backyard. The rankings clearly show it's not a "top of the market" property for its area, so buyers seeking premium features or above-average square footage should look elsewhere.