Property Overview
This 1981 bi-level home at 198 Bayridge Avenue in Fort Richmond presents a practical opportunity with a few standout features. Its key appeal lies in the balance of a recently renovated basement and a lot size that is exceptionally large for its immediate street. With 1,047 sqft of living space, the home itself is fairly typical for the area, but the 5,293 sqft lot is in the top 5% on Bayridge Avenue, offering valuable outdoor space and potential. The detached garage adds utility. The home would suit first-time buyers or downsizers looking for a manageable footprint in a established neighbourhood, without a premium for above-average square footage. It’s also a sensible fit for a value-conscious buyer who prioritizes land size over a newer build date, seeing the generous yard as a long-term asset for gardening, expansion, or simply more privacy than nearby properties afford.
Frequently Asked Questions
How does the lot size compare to typical properties?
While the lot is below average for the wider Fort Richmond area, it is notably larger than most on Bayridge Avenue itself, ranking in the top 5% of the street. This means you get a more generous yard compared to your immediate neighbours, which is a relative advantage.
What is the significance of the assessed value being "above average" for the street?
An assessed value that ranks above the street average (Top 29%) can indicate that the municipality views the property favorably relative to its closest comparables, often reflecting factors like the renovated basement and the larger lot. It's a data point for valuation, but not a direct market price.
The home was last sold in 2020. What might have changed since then?
The primary update noted is the renovated basement. A sale four years ago suggests the current owners may have undertaken this renovation, potentially adding liveable space and modern finishes that weren't reflected in the 2020 price.
Is the living space considered small?
At 1,047 sqft, it is slightly below the average for both the neighbourhood and the city. This confirms the home is a more compact bi-level, which aligns with its likely appeal to those seeking easier maintenance and lower utility costs, with the basement renovation effectively adding to the usable space.
Why is the "Year Built" ranking so different from street to neighbourhood?
Built in 1981, it's older than many homes on its specific street but is actually newer than the majority of homes across the broader Fort Richmond area. This highlights that the immediate block may have developed slightly later, so the home isn't unusually old for Winnipeg overall.