Property Overview
This one-storey home at 19 Loyola Bay in Fort Richmond presents a practical opportunity in a well-established neighbourhood. Built in 1969, its key characteristic is a renovated basement, adding valuable finished space to the 1,002 sqft main living area. The property sits on a 6,269 sqft lot and includes a detached garage.
The appeal lies in its strong positioning within its immediate, sought-after Loyola Bay area. Data shows its living area and assessed value rank in the top 22% and 19%, respectively, among its 32 direct neighbours, meaning it offers more house and perceived value than most on the same street. This creates a sense of relative value and desirability within a specific micro-market. However, compared to the broader Fort Richmond area and city, the home is more average or below average in size, offering a grounded perspective on its place in the wider market.
This home would suit first-time buyers or downsizers looking for a manageable, single-level layout in a mature neighbourhood. It’s also a fit for value-conscious buyers who prioritize a home that stands out positively on its own block over one that competes with larger, newer builds in the wider suburb. The renovated basement adds functional space for a growing family, a home office, or a recreation room.
Frequently Asked Questions
1. How does this home truly compare in value?
While its city-wide assessment is average, its value is most notable on its own street. It ranks 6th highest of 32 homes on Loyola Bay for assessed value, suggesting it is considered a higher-quality asset in its immediate peer group, which can be a positive signal for future resale within the neighbourhood.
2. Is the lot size a disadvantage?
The lot is smaller than average for both Loyola Bay and Fort Richmond. However, it remains larger than the typical Winnipeg city lot. This means less yard maintenance but potentially less private outdoor space than some neighbours. It’s a trade-off that may appeal to those seeking a lower-maintenance property.
3. What does the sold price history indicate?
The home sold previously in September 2017 for an estimated $26.5k to $29.5k. The current assessed value of $38.5k reflects significant growth in the last seven years, aligning with broader market trends. For an exact historical sold price, you can request the information via email from the listing source.
4. Who might this home not suit?
Buyers seeking a large, modern home with expansive square footage or a huge yard may find it limiting. Its appeal is strongest for those who value its above-average status on a desirable street over having a top-tier property in the broader area.
5. What are the practical implications of a "renovated basement"?
While a positive, it’s important to clarify the scope, quality, and permits for this renovation. It adds living space, but understanding its finish, ceiling height, and moisture management is crucial, as basements in homes of this era can have specific considerations.