Property Overview: 565 Parkwood Place, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This two-storey home on Parkwood Place is defined by its exceptional space, both inside and out. With over 4,100 square feet of living area, it ranks in the top 1% of homes in Fort Richmond and citywide for size, offering a rare volume of interior room. This is complemented by a land parcel of approximately 16,250 square feet, placing it in the top 2% of lots in the area, providing significant outdoor privacy and potential.
The primary appeal lies in this combination of grand interior proportions and a sprawling, estate-like lot within a well-established neighbourhood. Built in 1974, the home is newer than many in Winnipeg but is a mature property that likely appeals to those valuing established landscapes and community character over a brand-new build. The assessed value of $1.03M reflects its elite standing in the local market.
This property is ideally suited for buyers who prioritize space above all else—whether for a large family, multi-generational living, or extensive entertaining. It’s for those seeking a private retreat without leaving the city, who appreciate the value of land and are prepared to maintain or potentially update a home of this vintage and scale.
Frequently Asked Questions
1. How does the home’s age affect its value?
Built in 1974, the home is newer than the Winnipeg average but is not a new construction. Its value is driven overwhelmingly by its massive lot and living area. Buyers should budget for updates consistent with a home of this era, while viewing the established neighbourhood and mature landscaping as a benefit of its age.
2. Is the lot size typical for the area?
No, it is exceptional. While it’s actually below average for Parkwood Place itself—a street of very large lots—this property’s lot is in the top 2% for all of Fort Richmond and Winnipeg. You are purchasing a level of land privacy that is increasingly rare in the city.
3. What does the sold price history indicate?
The data shows a sale in early 2021 in the $93,500–$96,500 range, with the assessed value now at $1.03M. This significant increase reflects broader market trends and the unique, top-tier attributes of this specific property. It underscores the importance of a current, professional appraisal.
4. Who would this home not suit?
It may not suit buyers seeking a modern, low-maintenance, or turn-key property, as a home of this size and age will require committed upkeep. It’s also likely more space than needed for small households or those unwilling to manage the heating, cleaning, and maintenance costs associated with nearly 4,140 sq ft.
5. Are the property taxes in line with the assessment?
With an assessed value in the top 1% of the city, property taxes will be correspondingly high. Prospective buyers should investigate the exact tax amount to fully understand the annual carrying costs of this premium property.