Property Overview: 47 Greyfriars Road, Fort Richmond, Winnipeg
Key Characteristics & Buyer Appeal
This is a well-situated, classic 1969 bi-level home in the established Fort Richmond neighbourhood. With 933 sqft of living space, it is a compact and efficient property, notably smaller than many area comparables, which positions it as a potentially more affordable entry point into the community. Its key features include a renovated basement and an attached garage. The lot size of 6,817 sqft is a standout, ranking above the Winnipeg city-wide average, offering valuable outdoor space for gardening, play, or expansion.
The appeal lies in its balance of a mature neighbourhood setting with a manageable footprint. It suits first-time buyers or downsizers seeking a lower-maintenance home without sacrificing yard space. The recent basement renovation adds modern livability, while the home’s assessed value is consistently around the average for its immediate area, suggesting a stable and realistic market position. A thoughtful perspective for buyers is to see the smaller living area not just as a limitation, but as an opportunity for efficient, low-cost living and heating, with the generous lot providing a rare flexibility that many newer, denser subdivisions lack.
Frequently Asked Questions
1. Is this home a good value compared to others on the street?
Based on assessed value, it ranks right around the average for Greyfriars Road. Its living area is below the street average, but it compensates with a larger-than-city-average lot and updated features like the basement.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent to understand if it’s a finished living space, a modernized utility area, or includes legal secondary suite potential.
3. How does the lot size benefit me?
The lot is significantly larger than the typical Winnipeg property. This means more private outdoor space and potential for additions, a larger garden, or a shed, which is uncommon for homes of this era and style in the city.
4. What are the typical utility costs for a home of this size and age?
While not provided in the data, the compact 933 sqft footprint and bi-level design often result in lower heating and cooling costs compared to larger two-storey or bungalow styles from the same period, a practical financial advantage.
5. Has the property’s value increased over time?
Public sale data shows a sold price range of $27.5k-$30.5k in 2016 and $30.5k-$33.5k in 2020. This indicates gradual appreciation. The current assessed value of $39.30k suggests a continued upward trend, consistent with broader market movements.