Property Overview
This 1971 one-storey home at 51 Mount Allison Bay in Fort Richmond offers a practical, no-frills living option. With 946 square feet of living space and a renovated basement, it sits on a 6,112 sqft lot. The home lacks a garage and pool. Its assessed value is notably below average for the Fort Richmond area, positioning it as a more accessible entry point into the neighborhood.
Key Characteristics & Appeal
The primary appeal of this property is its value proposition within a well-established neighborhood. It suits first-time buyers, downsizers, or investors looking for a functional home with a renovated basement at a price point below the local area average. The lot size is generous for the city overall, offering good outdoor space potential. A thoughtful perspective is that while the home's living area is modest, its below-average assessment for Fort Richmond could indicate an opportunity for equity growth as the area develops, without the premium price of a larger or updated home. Its one-storey layout also appeals to those seeking accessibility or simplicity. The appeal is grounded in practicality rather than luxury, ideal for someone who values location and lot size over a large or modern interior.
Frequently Asked Questions
1. Is the price firm, and how does it compare to recent sales?
The home sold in July 2024 for an estimated range of $34.5k to $37.5k, which was consistent with its assessed value of $35.6k. This suggests the price was set in line with market valuations at that time.
2. What is the neighborhood like, and what are the nearby amenities?
Fort Richmond is a mature neighborhood near the University of Manitoba. It typically offers a mix of residential streets, schools, parks, and convenient access to shopping and services, appealing to families, academics, and long-term residents.
3. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should inquire about the finishes, permits, and whether it includes added bedrooms, a legal suite, or simply updated living space.
4. How does the lack of a garage affect parking and storage?
The property has no garage. Buyers should plan for street parking and consider the cost of adding a shed or other storage solutions. The large lot does provide space for a future garage, subject to local bylaws and permits.
5. The home is older; what should I know about its condition?
Built in 1971, the home is around average age for the street but older than the city-wide average. While the basement is renovated, a thorough inspection of major systems (roof, plumbing, electrical, foundation) is recommended to understand any upcoming maintenance typical for a home of this era.