Property Overview
This 4-level split home at 42 Mcmasters Road in Fort Richmond presents a practical opportunity in a well-established neighbourhood. Built in 1965, it sits on a generous 6,970 sqft lot, which is notably larger than many city-wide and street-level comparisons. The 1,567 sqft living area is also above average for its immediate area, offering more space than many neighbouring homes. A key feature is the renovated basement, adding to the functional living space. The home includes a detached garage. Recent sales data indicates a significant increase in value over the past eight years, suggesting a positive trajectory for the area or the property's improvements.
Key Characteristics & Appeal
The primary appeal of this property lies in its space and land. The lot size is a standout feature, providing ample outdoor room for gardening, play, or expansion, which is increasingly rare. The above-average living area, spread across four levels, offers good separation of living spaces, ideal for a family seeking defined zones or a multi-generational household. The renovated basement adds immediate modern utility without the need for a major project.
Its value appears grounded in tangible assets—more land and more interior square footage than many peers—rather than just neighbourhood prestige. This home would suit a practical buyer who prioritizes indoor and outdoor space over a brand-new build. It’s also a sensible fit for those comfortable with a home of this age, who can appreciate the character and solidity of a well-maintained 1960s structure while understanding that some systems may be original. The strong performance in recent sales suggests it resonates with market demands.
Frequently Asked Questions
1. What does the "above average" ranking for living area actually mean?
It means that, compared to other homes specifically on Mcmasters Road, this house's interior size (1,567 sqft) is in the top 22%, making it larger than 78% of its direct street neighbours.
2. The assessed value seems low. Is that the market value?
No, the municipal assessed value (approximately $391,000) is for tax purposes and often lags behind the current market. The recent sold price range (approximately $475,000-$505,000 in early 2025) is a much more accurate reflection of its likely market value.
3. Are there any concerns with a home built in 1965?
As with any home of this age, the condition of major systems like plumbing, electrical, and the roof should be verified during an inspection. The renovated basement is a positive update, but the overall maintenance history is key.
4. What are the implications of a 4-level split design?
This style offers good separation of living and sleeping areas but involves more stairs. It can be excellent for family living, but may not be ideal for those with mobility concerns.
5. How does the detached garage affect usability?
A detached garage provides flexibility for a workshop or projects separate from the house but means you will need to go outside to access your vehicle, which can be a consideration during Winnipeg winters.