Property Overview: 63 Leeds Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated Fort Richmond home is a classic one-storey bungalow built in 1973, offering a practical and straightforward living space. Its key appeal lies in its solid positioning within the local market. With 1,226 sqft of living area and a recently renovated basement, the home provides functional space that ranks around the neighbourhood average. A significant advantage is the generous 7,197 sqft lot, which places it in the top 15-30% for land size citywide, offering ample outdoor space and potential that is less common in newer developments.
The home suits first-time buyers or downsizers looking for a manageable single-level layout in a mature, established neighbourhood. Its assessed value is consistent with area averages, suggesting a fairly priced entry point into the market. A thoughtful perspective is that while the house itself is statistically average for the area, the larger-than-average lot represents a tangible asset—offering room for gardens, recreation, or future expansion, which adds a layer of long-term value not immediately reflected in the square footage of the home itself.
Section 2: Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data shows this property is very typical for Fort Richmond in terms of living space, age, and value. Its standout feature is the lot size, which is larger than most homes in Winnipeg, providing a valuable parcel of land in a mature neighbourhood.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finishes, permits, and whether it includes a separate entrance or additional bedrooms to understand its full value and functionality.
3. Is there potential for future expansion or updates?
Given the generous lot size and the home's age, there is likely potential for additions, a garage, or landscaping projects. The large lot is a key asset for customization, subject to local zoning bylaws.
4. How current is the assessed value, and what does it mean for property taxes?
The assessed value is $420k, which is used for calculating municipal property taxes. It is a provincial assessment, not a market appraisal, but it places the home in a mid-range bracket for the area, suggesting average tax obligations.
5. The home sold recently in late 2024. What can be inferred from that sale?
The sold price range from late 2024 provides a very recent market benchmark. The fact it sold within a few months suggests it was priced appropriately for the market conditions at that time, offering a reliable data point for current valuation.