Property Overview: 59 Magdalene Bay, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 59 Magdalene Bay presents a compelling mix of space, value, and potential. Its most standout feature is the exceptionally large lot—over 11,000 sqft—which ranks in the top 5% locally. This offers rare outdoor space for gardens, recreation, or future expansion in a mature neighborhood. The home itself, built in 1972, is of a newer vintage than most on its street and features a renovated basement and an attached garage.
The appeal lies in its value proposition. While the living area (933 sqft) is modest and below area averages, the assessed value is strong for the immediate street, suggesting the premium lot size is a key factor in its valuation. It suits practical buyers who prioritize land over a large existing footprint—perfect for those wanting room to grow, down-sizers seeking private outdoor space, or value-conscious investors attracted by the lot's inherent equity. It’s a property where the land is the primary asset, with the house offering functional living space.
Section 2: Frequently Asked Questions
1. Is the living space too small for a family?
While below the neighborhood average, the 933 sqft layout, combined with a renovated basement, provides functional living areas. The immense lot offers valuable "outdoor rooms" for play and entertaining, effectively expanding usable space.
2. Why is the assessed value strong compared to the home's size?
The high assessment is largely driven by the elite-sized lot. In established neighborhoods, land value often constitutes a significant portion of a property's worth, and this lot is a standout asset.
3. What does "bi-level" mean for this home?
A bi-level typically features a main living area accessed by a short staircase from the entry, with a lower level partially below ground. This home’s lower level is renovated, adding to its livable space.
4. How does the age of the home (1972) affect things?
Built in 1972, it is newer than many on its street. This can mean updates to major systems may have already occurred, but a thorough inspection is still recommended to understand the condition of the roof, windows, and mechanicals.
5. What is the neighborhood like?
Located in Fort Richmond, it's a mature, established area. The data shows homes on Magdalene Bay have consistent vintage and value, indicating a stable, well-maintained street. Proximity to nearby bays (Loyola Bay) suggests a pleasant, community-oriented setting.