Property Overview: 59 Tulane Bay, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This 4-level split home, built in 1965, stands out in its Fort Richmond neighbourhood for its generous proportions. Its primary appeal lies in its significant land size—a 10,085 sqft lot that ranks in the top 9% locally—offering substantial outdoor space that is increasingly rare. The 1,482 sqft living area is comfortably above average for the immediate street and provides a practical layout for family living. A key feature is the renovated basement, adding modernized living space. The home’s assessed value is positioned above average for the street but remains within the mid-range for the wider area, suggesting a solid value proposition for the lot and living space provided.

This property would suit a buyer looking for a established home with room to grow, both inside and out. It’s ideal for those who prioritize private outdoor space over a newer build date, and for practical buyers who appreciate the value-add of a renovated basement. The detached garage adds utility for storage or projects. It’s a home for someone comfortable with a character property from the 1960s, who sees potential in the generous lot and is seeking a foothold in a stable neighbourhood.

Frequently Asked Questions

1. How does the property’s size compare to others?
The home’s living area is larger than most on its street and in Fort Richmond. Its most notable feature is the land size, which is significantly larger than typical lots in the area, ranking in the top 10% locally.

2. What is the home’s condition given its age?
Built in 1965, the home is of an age where core systems may need evaluation. However, the basement has been renovated, indicating some updates have been made. A thorough inspection is recommended to understand the condition of the roof, wiring, plumbing, and structure.

3. Is the assessed value a good indicator of the selling price?
The assessed value is a municipal tax valuation, not a market price. Recent sold price data for the area (showing a range of $365k-$395k for a 2020 sale on this street) should be reviewed with a real estate professional to determine current market value.

4. What are the benefits of a 4-level split layout?
This style often provides good separation of living and sleeping areas, offering more privacy than a bungalow or standard two-storey. However, it also means more stairs, which is a consideration for mobility or young children.

5. Why is the lot size considered a major advantage?
A lot of this size offers exceptional outdoor space for gardens, play, or entertaining. It also provides future potential, such as for additions or landscaping projects, that isn't available with standard-sized lots. This is a long-term asset that contributes to the property’s value.