Property Overview: 6 Tulane Bay, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Fort Richmond is a solid, average-sized property within its local context. Built in 1965, it features 1,225 sqft of living space, an attached garage, and a renovated basement. The lot size of 5,716 sqft is notably smaller than many in the immediate neighbourhood and Fort Richmond area, but is close to the city-wide average.
Its primary appeal lies in its established location and practicality. The home sits comfortably within the middle range for its street and area in terms of size, assessed value, and age, suggesting a stable, predictable investment without extreme outliers. The renovated basement adds modern living space. Recent sale history indicates strong value appreciation between 2020 and 2022.
This property would best suit first-time buyers or downsizers seeking a manageable, single-level layout in a mature neighbourhood. It’s also a practical choice for an investor or buyer who values a home that is neither the largest nor the smallest on the block, offering a sense of community consistency. The smaller lot could be a benefit for those wanting less yard maintenance.
Section 2: Frequently Asked Questions
1. How does this home’s value compare to recent sales?
It last sold in February 2022 for an estimated $45,500-$48,500, which was in the top 10-12% for sale prices on its street at that time. This followed a significant increase from its prior sale in February 2020, showing strong appreciation in that period.
2. Is the lot size a concern?
The lot is smaller than many in Fort Richmond. This means less yard upkeep, but also less private outdoor space. For some buyers, this is a worthwhile trade-off for the location. The lot is still near the average size for Winnipeg overall.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the selling agent to understand the quality and scope of the renovation and whether it includes legal secondary suites or simply finished living space.
4. How does the assessed value relate to the expected market price?
The assessed value is $41,200, which is used for property tax calculation. Market price is determined by current buyer demand. The home’s 2022 sale price was significantly higher than its current assessed value, which is common, as assessments lag behind market shifts. Recent sale prices on the street are a better gauge.
5. Are there other similar homes available nearby?
The data shows several comparable homes on the same street in terms of assessed value, such as 35 Tulane Bay, which is slightly larger. This provides useful context for comparing price, size, and condition when evaluating this property’s market position.