Property Overview: 83 Valence Avenue, Fort Richmond, Winnipeg

Key Characteristics & Appeal

This one-storey home in Fort Richmond is a practical and straightforward property. Built in 1975, it is notably newer than many homes on its own street and in the wider area, which can be an advantage for systems and structure. The living space of 1,232 sq ft is comfortably average for the neighbourhood, fitting typical family needs without being excessive. A key feature is the renovated basement, adding functional living area. The property sits on a 6,599 sq ft lot, which is generous by city-wide standards, offering good outdoor space and potential. It includes a detached garage.

Its appeal lies in its position as a solid, no-frills home in a well-established area. The below-average assessed value for the street suggests it may present a relative value opportunity within Valence Avenue, potentially offering more house and land for the money compared to immediate neighbours. The combination of a newer build year, a renovated basement, and a larger-than-city-average lot creates a balanced package.

This home would best suit first-time buyers, downsizers looking for single-level living, or practical investors seeking a property with foundational upgrades already in place. It’s for those who prioritize space and condition over high-end finishes, and who see value in a home that sits on a desirable lot in a mature community.

Frequently Asked Questions

1. What does the "below average" assessed value on the street actually mean?
It indicates that the city's assessment for this home is lower than most on Valence Avenue. This doesn't directly set the market price, but it can sometimes signal a more affordable entry point into a desirable street or suggest the property is undervalued relative to its neighbours.

2. Is a home from 1975 considered old?
In Winnipeg's context, a 1975 build is relatively mid-era. It’s newer than the city-wide average, meaning major components like wiring and plumbing may be more modern than in many older homes, but it will still require diligent inspection for updates like windows, roof, and mechanical systems.

3. What are the pros and cons of a detached garage?
A detached garage provides flexibility—it can be a workshop or project space without affecting the main house. However, it means navigating outdoors to access your vehicle in Winnipeg winters, which is a consideration for some buyers.

4. How usable is a 6,599 sq ft lot?
This is a very good-sized urban lot. It allows for substantial backyard space for gardening, play, or entertaining, with ample room for additions like a shed or deck. It offers more privacy and potential than many newer subdivision lots.

5. The data shows it sold in 2023. Why is that relevant?
A recent sale provides a clear, modern benchmark for its market value, which is useful for understanding current price trends. The quick turnaround may indicate a previous investor flip (given the renovated basement) or a change in the owner's circumstances, but reviewing the exact sale details would be important.