Property Overview & Key Characteristics
This one-storey home at 2 Millikin Road in Fort Richmond is a practical property that offers a specific value proposition. Its key appeal lies in its generous 7,039 sqft lot, which is notably larger than many homes on its street and across Winnipeg, providing excellent outdoor space and potential. The home itself, built in 1973, is more modest in size at 1,082 sqft and features an attached garage and a renovated basement. Its assessed value positions it as an around-average investment for the Fort Richmond area.
The property would suit first-time buyers or downsizers looking for a manageable single-level layout with a low-maintenance footprint, but who still desire a sizable yard for gardening, pets, or future expansion. It also appeals to value-conscious buyers who see potential in the land itself, perhaps viewing the existing house as a solid foundation to update over time. A less obvious perspective is that this home represents a balance: you’re acquiring a larger-than-average piece of land in an established neighbourhood without the premium price tag of a larger or fully modernized house, making it a strategic entry into the market.
Frequently Asked Questions
1. How does the home’s size compare to the neighbourhood?
The living area is below average for both Millikin Road and the wider Fort Richmond area, making this a more compact, efficient home. The significant trade-off is the lot size, which is substantially larger than average.
2. What is the significance of the assessed value?
The assessed value of $40,80k is around average for Fort Richmond. This suggests the property is priced in line with area norms, not as a premium or deeply discounted listing, which can indicate stability.
3. Is the renovated basement a full suite?
The listing notes a renovated basement but does not specify if it is a legal suite. Buyers should verify with the seller or authorities if it meets code for a secondary rental unit, as this could impact value and utility.
4. What might the large lot mean for me?
Beyond private outdoor space, a large lot in an older neighbourhood can offer long-term flexibility. It could accommodate additions like a large shed, workshop, or deck, and may have better redevelopment potential down the line compared to properties on smaller lots.
5. Where can I find the exact historical sale price?
The listed sale range is an estimate from public data. The exact sale price from February 2020 is available by request via email from the listing service, which provides the accurate figure manually without marketing spam.