Property Overview
This 1973 bi-level home at 123 Ryerson Avenue in Fort Richmond presents a solid, middle-of-the-road opportunity in the Winnipeg market. Its key appeal lies in its established neighbourhood and balanced metrics, offering a practical rather than flashy purchase. The home features 1,216 sqft of living space, an attached garage, and a renovated basement, sitting on a 6,815 sqft lot that is notably above average in size citywide. The assessed value is $420,000.
Key Characteristics & Ideal Buyer
The home’s characteristics are consistently average or better for its immediate area, but it stands out in two specific ways. First, its lot size is in the top 19% citywide, offering more outdoor space than many comparable properties—a valuable asset for gardening, play, or future expansion. Second, it is the newest build on its block (top 3% on Ryerson Avenue), which may suggest slightly updated infrastructure compared to direct neighbours.
Its appeal is grounded in stability and space. It suits first-time buyers or young families looking for a move-in-ready home in a mature neighbourhood without premium pricing. It would also fit a value-conscious buyer who prioritizes a larger yard over a larger house. The renovated basement adds functional living space, making it practical for those needing a home office, recreation room, or extra bedroom. It’s not a luxury property, but a comfortable and sensible one.
Frequently Asked Questions
1. How does this home’s value compare to recent sales in the area?
Based on available data, its last sale was in April 2021 in the $375k-$405k range. Its current $420k assessment is around average for Fort Richmond but ranks in the top 34% citywide, indicating it holds value well compared to the broader market.
2. What does the "newest on the block" ranking mean for me?
Being built in 1973 makes it the newest among the 40 homes on Ryerson Avenue. In a neighbourhood of similar-aged homes, this minor edge could mean less immediate need for major system updates (like roofing or windows) compared to older neighbours, assuming similar maintenance.
3. Is the lot size a significant advantage?
Yes, particularly if outdoor space is a priority. The lot is larger than 81% of comparable properties across Winnipeg. This provides more privacy, landscaping potential, and a sense of space than typically found in the city for homes in this price and style bracket.
4. Who might this property not suit?
Buyers seeking a modern, open-concept layout or very high-end finishes may find this bi-level too traditional. It may also not suit those wanting a "turnkey" newer build, as a 50-year-old home will still require ongoing maintenance and may need cosmetic updates.
5. What are the immediate next steps if interested?
Review the exact sold price history by requesting it via email from the site to understand precise market trends. Then, compare this home to the listed "worth viewing" property at 79 Michigan Avenue, which is newer and larger but likely at a higher price point, to confirm value alignment.