Property Overview: 11 Millikin Road, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This is a well-established, one-storey home with a renovated basement, built in 1972 on a generous 6,598 sqft lot in Fort Richmond. Its key appeal lies in its balance of space and location. While the 1,082 sqft living area is modest compared to some neighbours, the property benefits from a large, citywide-above-average lot, offering valuable outdoor space and potential. The attached garage and updated basement add practical, modern convenience to the classic bungalow layout.
The home’s assessed value sits comfortably around the neighbourhood and city averages, suggesting a stable, fair-market positioning. It would suit first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard size, or an investor seeking a solid rental property in a mature, family-oriented community near the University of Manitoba. A thoughtful perspective is that this property represents the "bones" of a good home—its lot size is a permanent asset that outperforms many city properties, while the interior living space offers a straightforward canvas for future updates as needed.
Frequently Asked Questions
1. How does the home’s size compare to others in the area?
The living space is cozier than many on its street and in Fort Richmond, but it is close to the average size for a Winnipeg home overall. The trade-off is a larger-than-average city lot.
2. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $400k is a municipal tax valuation. It is a useful benchmark, showing the home is aligned with area averages, but market conditions, the renovated basement, and the lot size will ultimately determine the sale price.
3. What does the sold price history from 2016 tell us?
The previous sale in the $28.5k-$31.5k range reflects a very different market nearly a decade ago. It is not a direct indicator of current value but does show a long period of ownership, which can suggest a well-maintained property.
4. What are the pros and cons of a 1972-built home?
Homes from this era often have solid construction and simpler, functional layouts. Potential buyers should budget for age-related updates, such as windows, roof, or major systems, which are common for homes over 50 years old.
5. Who might this property not suit?
It may not fit buyers seeking a large, modern interior or open-concept living without undertaking significant renovations. The living area rankings indicate those prioritizing abundant indoor space over lot size might find better options elsewhere in the neighbourhood.