Property Overview
15 Loyola Bay is a well-situated one-storey home in Fort Richmond, built in 1969. It features 1,022 sqft of living space, a renovated basement, and a detached garage on a generous 6,598 sqft lot. Its recent sale history and current assessed value position it as an accessible entry point into the Winnipeg market.
Key Characteristics & Appeal
This home’s primary appeal lies in its balance of space, location, and value. The renovated basement adds functional living area, while the large lot offers privacy and outdoor potential uncommon in many city properties. It stands out on its street for its above-average living area and land size compared to immediate neighbours.
The property suits first-time buyers or downsizers seeking a manageable single-level layout in an established neighbourhood. Its value proposition is clear: you acquire a larger-than-typical lot for the area and a home with updated fundamentals (the basement), without the premium price of a fully modernized showhome. A thoughtful perspective is that while the home is below the neighbourhood average in size and value, it outperforms on its specific street—suggesting a more intimate, consistent streetscape. It represents a solid foundation for someone willing to make gradual updates while enjoying immediate livability and outdoor space.
Frequently Asked Questions
1. How does the property’s value compare to the area?
The home’s assessed value is below the average for Fort Richmond but is around the average for its immediate street and city-wide. This suggests it is priced appropriately within its micro-location, potentially offering more value relative to its direct neighbours.
2. What is the significance of the renovated basement?
A renovated basement adds immediate functional living space without the need for a major project. It’s a key feature that enhances the home’s usable square footage, which is already above average for houses on Loyola Bay.
3. Who would this property best suit?
It is an ideal fit for first-time homeowners or those looking to downsize into a single-storey layout. The detached garage and large lot also appeal to buyers who value workshop space, gardening, or simply more outdoor privacy.
4. The home was built in 1969. What should I consider?
While the basement has been renovated, a home of this age will likely have original core components (like windows, roof, or major systems) that may need attention or future updating. A thorough inspection is advised to prioritize any maintenance.
5. How stable is the property’s value based on its history?
Recent sale data shows steady appreciation. The sale in 2023 was at a higher price point than the 2020 sale, indicating a stable or increasing value trend in its local market context.