Property Overview: 35 Tulane Bay, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1966, sits on an exceptionally large lot of over 13,000 sqft, placing it in the top tier for land size within its street, neighbourhood, and the wider city. The home itself offers 1,442 sqft of living space and features an attached garage and a renovated basement. Its primary appeal lies in this rare combination of a spacious, established lot in a mature neighbourhood and a home with updated fundamentals. The property’s consistent value growth, with sold prices rising from $362k in 2017 to $430k in late 2024, suggests a stable and desirable location.
This home would suit buyers looking for outdoor space and privacy that is often hard to find in newer subdivisions. It’s ideal for those who value a large yard for gardening, recreation, or future expansion, and who appreciate a home with a renovated basement ready for use. The data indicates it particularly stands out on its street for lot size and overall value, making it a prime candidate for buyers prioritizing land over a brand-new build.
Frequently Asked Questions
1. How does the age of the home (1966) affect maintenance?
While the home is nearly 60 years old, key updates like a renovated basement are noted. Buyers should budget for and inspect age-related systems common to homes of this era, such as the roof, windows, plumbing, and electrical, which may need attention or updating.
2. What does the large lot size mean practically?
The 13,150 sqft lot is significantly above average, offering ample space for additions like a deck, shed, or garden. It also provides a greater sense of privacy and room for children or pets to play. It’s a long-term asset that is increasingly scarce.
3. The assessed value is much lower than the recent sale price. Why?
Municipal assessed value ($48,700) is for tax purposes and is typically calculated using older mass-appraisal methods. It often lags behind the current market value, which is better reflected in the recent sale price of $430,000 (December 2024).
4. Is the neighbourhood actively developing?
Fort Richmond is a mature, established neighbourhood. The high rankings for lot size and value on this street suggest it’s a well-regarded, stable area rather than one undergoing rapid new development, appealing to those seeking consistency.
5. How does this home compare to others nearby?
The home ranks highly in its immediate area for lot size, living area, and value. Compared to nearby listings, it offers more living space and land than many, positioning it as a premium offering within this specific pocket of Fort Richmond.