Property Overview: 11 Celtic Bay, Fort Richmond, Winnipeg
This one-storey home in Fort Richmond presents a practical opportunity in a well-established neighbourhood. Built in 1965, it features 1,082 sqft of living space and sits on a 5,606 sqft lot. A key feature is its renovated basement. The home does not have a garage or pool. Its recent sale history and assessed value position it as a more accessible entry point within its immediate area.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition and move-in readiness. With a renovated basement, the home offers functional, updated space without immediate major projects. Its one-storey layout suits those seeking ease of living without stairs. The lot size, while below average for Fort Richmond, still provides decent outdoor space for a home of this era.
This home would suit first-time buyers or downsizers looking for an affordable foothold in a mature Winnipeg neighbourhood. Its below-average assessed value compared to nearby homes on Celtic Bay suggests a potentially lower property tax burden and a chance to gain equity through cosmetic updates. A thoughtful perspective is that while the home ranks below average in size and value on its own street, it is closer to the city-wide average, indicating you're buying into a desirable, established street at a relative discount. The trade-off is accepting an older home with original main-floor elements, assuming the renovation was focused on the basement.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this age usually means finished living space with updated flooring, drywall, and lighting. It's important to check the quality of the renovation, any moisture management, and whether permits were obtained.
2. How does the lack of a garage affect daily life and value?
Many older homes in the area lack garages. Buyers should plan for street parking or the potential cost of adding a shed or carport. This can be a drawback for some but is reflected in the home's accessible pricing.
3. The home sold recently in 2022 and again now. Is that a concern?
The short ownership period warrants asking why the seller is moving so soon. It could be due to personal circumstances, not the property itself. Review the sale history for any significant price change that might indicate an issue or, conversely, a quick improvement flip.
4. How does the assessed value compare to the likely selling price?
The assessed value is for municipal tax purposes and is often lower than market value. Its ranking shows the home is taxed as if it's worth less than many neighbours, which is a positive for ongoing costs, but the selling price will be determined by current market conditions.
5. What are the pros and cons of a 1965-built home?
Pros include character, mature landscaping, and often larger lots than newer builds. Cons include the potential for outdated wiring, plumbing, windows, and insulation, which may require future investment. A thorough inspection is essential.