Property Overview – Ramage Place, Richmond Lakes, Winnipeg

Key Characteristics & Buyer Profile

This is a home that sits in an interesting middle ground. At roughly 1,050 square feet, the living area is slightly below the average for its street and citywide, but it holds up well within the broader Richmond Lakes area, where it lands in the top 38%. The lot tells a different story: at 6,150 square feet, it's well above average for the neighbourhood and city, which gives it breathing room that many newer builds in the area lack. Built in 1987, the house is older than most on the street, but that also means it's part of an established block with mature trees and settled landscaping—something you don't get in a subdivision built in the last decade.

The assessed value is $386,000, which is above the median for the area and city. That suggests the land and location are doing some of the heavy lifting here. The appeal lies in the trade-off: a smaller footprint on a generous lot in a well-regarded part of Winnipeg. It would suit buyers who want outdoor space, room for gardening, a detached garage, or future expansion potential, without paying for a large house they don't need. First-time buyers looking for something solid but not flashy, or downsizers who want a quieter street and a yard without upkeep of a big interior, would both find this worth a look. It's not a showpiece. It's a practical, good-value property for people who prioritize land and location over square footage.

Frequently Asked Questions

1. How does the living area compare to typical homes in Richmond Lakes?
It's slightly above average for the neighbourhood. The median living area in Richmond Lakes is about 1,030 square feet, so this property is in the top 38% locally. It's only when you compare it to newer or larger homes on the same street or citywide that it drops to the bottom third.

2. The assessed value seems high for the size. Why?
The lot is the main factor. At 6,150 square feet, it's larger than 72% of properties in Richmond Lakes and 72% citywide. In an established, desirable neighbourhood, land value often drives assessed value more than the house size. You're paying for the space, not just the square footage under roof.

3. Is the 1987 build date a concern in terms of maintenance?
It depends on how the previous owners have kept it up. A house from 1987 is now pushing 40 years old, so major systems like the roof, furnace, windows, and foundation may have been replaced once or may be nearing their next replacement. It's older than most homes on Ramage Place, so expect to budget for updates, but also know that the construction quality in that era is often more solid than what you'd find in a quick-build from the 2000s.

4. Who typically buys on this street or in this pocket of Richmond Lakes?
The area tends to attract a mix of families who want school access and parks, and older homeowners who bought decades ago and have stayed. Because the lots are generous, you also see people buying for redevelopment potential—either adding a suite or dividing the property if zoning allows. That's not a guarantee, but it's worth checking with the city.

5. How does this property compare to others for sale in the same price range?
For under $400,000 in Winnipeg, you often get either a smaller lot with a newer house or a larger lot with an older house. This one leans heavily toward the latter. The land is the asset. If you compare it to a townhouse or a starter home on a postage-stamp lot, it's a different kind of value—more privacy, more outdoor potential, less interior space. The right buyer will see that as a strength.