Property Overview: 3 McGill Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond presents a practical and solid opportunity. Its key appeal lies in a combination of a generous, above-average lot size and a recently renovated basement, offering flexible living space. With 1,220 sqft of living area, the home is comfortably sized and ranks as average for the neighbourhood, suggesting it meets typical needs without being oversized.
The standout characteristic is the property's assessed value, which ranks in the elite top 4% on its own street. This indicates a perceived value that outpaces most direct neighbours, a positive sign for equity. The lot of nearly 6,500 sqft is a significant asset, providing ample outdoor space that is increasingly rare and offers potential for gardening, expansion, or simply more privacy. The attached garage adds everyday convenience.
This property would suit first-time buyers or downsizers looking for a manageable single-level layout in a mature, established area. It’s also a sensible fit for value-conscious buyers who appreciate the upside of a large lot and recent interior updates (the basement renovation), understanding that a home from 1965 may require periodic maintenance or future cosmetic updates to the main living areas.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in late 2023 for an estimated $47.5k-$50.5k, which was significantly higher (top 13-17% range) compared to area averages at that time. Its current assessed value of $43.6k continues to rank very high on its street, suggesting stable or strong valuation trends for this specific property.
2. Is the lot size a typical feature for the area?
No, the lot is a distinguishing feature. At 6,495 sqft, it is above average for both the immediate street and city-wide, offering more outdoor space than many comparable properties.
3. What should I consider about the home’s age?
Built in 1965, the home is older than the average in Fort Richmond. Buyers should factor in the potential for age-related updates, such as the roof, windows, or major systems, while appreciating the character and established neighbourhood that come with an older home.
4. How does the living space compare to nearby homes?
At 1,220 sqft, the living area is very close to the average for both McGill Avenue and the wider city. It provides standard-sized rooms without feeling cramped, but is not an exceptionally large floor plan.
5. What is the neighbourhood context like?
Located on a quiet street in Fort Richmond, the property is part of a mature community with homes primarily from the 1960s and 70s. The high ranking of its assessed value on the street suggests it is considered one of the better-maintained or more desirable properties on the block.