Property Overview & Key Characteristics
This two-storey home on Ritchot Street in Central St. Boniface presents a compelling blend of space, location, and value. Its primary appeal lies in its generous 6,377 sqft lot, which ranks in the top 1% for size on the street itself, offering rare potential for gardens, expansion, or simply ample private outdoor space in a central neighbourhood. The 1,631 sqft living area is also notably above average for both the street and area, providing comfortable interior space. Key features include a renovated basement and a detached garage.
The home suits buyers seeking a character property with significant land in a well-established, walkable community. It’s ideal for those who value outdoor space over a brand-new build, as the 1941 structure is typical for the area but may require updates. The strong lot size and above-average living space, paired with an assessed value that is competitive for the street, make it a practical choice for a long-term holder or someone looking to add value through strategic updates.
Frequently Asked Questions
1. How does the lot size compare practically?
The lot is exceptionally large for the street and above average for the neighbourhood. This means more privacy, yard space, and potential than most nearby properties, but also implies corresponding maintenance or landscaping considerations.
2. What might the sale history indicate?
The property sold for $38,200 in 2021 and for $320,000 in 2019. The 2021 sale appears to be a significant outlier in value, potentially indicating a non-arms-length transaction or unique circumstances. The 2019 sale price is more aligned with area norms and provides a better market reference point.
3. Is the home modern or a renovation project?
Built in 1941, the home is older than the Winnipeg average. While the basement is noted as renovated, the main living areas likely retain classic character and may require modernization to suit contemporary tastes, which is typical for the charming St. Boniface area.
4. Who would this property not suit?
It may not suit buyers seeking a new, low-maintenance home or those sensitive to potential renovation needs. The detached garage also means exposed parking, which could be a drawback for some compared to an attached option.
5. How does its value stack up?
The assessed value is above average for Ritchot Street but around average for the wider neighbourhood and city. This suggests you are paying a premium for the specific location and lot size on this street, rather than for the home's finishes or condition relative to the entire market.