Property Overview
This 1970 bi-level home at 27 Wadham Bay in Fort Richmond presents a distinct value proposition centered on its land. With 933 sqft of living space, the house itself is modest and below the average size for the area. However, it sits on an exceptionally large, 11,614 sqft lot that ranks in the top 3-4% locally and city-wide. The home features an attached garage and a renovated basement.
The primary appeal lies in its potential. The lot size is a rare find in the city and offers significant future possibilities, whether for expansion, gardening, or simply enjoying ample private outdoor space. Its assessed value is relatively modest, especially compared to the city average, which may indicate an opportunity for equity growth. This property would suit a practical buyer who sees beyond the current footprint—perhaps a first-time homeowner willing to grow into the space over time, a family valuing a large yard, or an investor recognizing the long-term value of the land itself. It’s a home for those who prioritize land over lavish square footage.
Frequently Asked Questions
1. Is the house too small for a family?
While the living area is below average for the neighbourhood, the renovated basement adds functional space. The massive lot also effectively extends the living area outdoors for much of the year, which can offset the smaller interior for many families.
2. What does the "Elite" ranking for land area actually mean?
It means this property's lot size is larger than approximately 96-97% of comparable homes in Winnipeg. On its own street, it has the largest lot among the 39 homes ranked. This is the property's most standout feature.
3. The assessed value seems low. Does that indicate a problem?
Not necessarily. Assessed value is for municipal tax purposes and is influenced by many factors, including the home's size and age. The lower assessment relative to the city average could be due to the modest living space, but it also results in relatively lower property taxes, which is a financial positive for the owner.
4. Can the home be expanded or rebuilt given the large lot?
The large lot certainly provides the physical space for potential additions or future redevelopment. Any specific plans would require consultation with the city's zoning and permitting department to understand the bylaws and requirements that apply to this specific property.
5. Why is there a range for the last sold price, and how do I get the exact figure?
The displayed range is based on publicly available data. To protect precise transaction details and ensure accuracy, the exact sold price is provided directly by the listing service upon request. You can submit your email to receive the exact figure manually.