Property Overview: 634 Patricia Avenue, Fort Richmond, Winnipeg
Key Characteristics & Buyer Appeal
This well-situated Fort Richmond home is a classic one-storey bungalow built in 1970, offering a practical and manageable footprint. Its key features include a renovated basement and a detached garage. With 974 sqft of living space, the house itself is notably compact compared to area averages, which may appeal to those seeking lower maintenance and utility costs without sacrificing the benefits of a mature neighbourhood. The lot, however, is a generous 6,472 sqft, providing ample outdoor space that is above average city-wide—a valuable asset for gardening, recreation, or future expansion.
The appeal lies in its balance and potential. The assessed value is consistent with area norms, suggesting a stable, fairly priced entry into the Fort Richmond community, known for its proximity to the University of Manitoba, parks, and amenities. This property would suit first-time homebuyers, downsizers looking for a single-level layout, or pragmatic investors seeking a home with a renovated basement for rental income or a mortgage helper. The combination of a smaller, efficient house on a larger lot offers a less obvious value: the opportunity to live affordably now while holding land with future potential in a well-established area.
Frequently Asked Questions
1. How does the size of this home compare to others in the area?
The living area of 974 sqft is below average for the immediate street, neighbourhood, and city. This indicates a more compact, efficient layout suitable for simpler living.
2. What does the assessed value tell me about this property?
With an assessed value around $41,300, this home sits solidly in the middle range for Fort Richmond and the city. It suggests the property is priced in line with market fundamentals for the area, not an outlier.
3. The home was built in 1970. What should I consider?
While the building is over 50 years old, it is newer than many on its street. A standard home inspection is essential to understand the condition of major aging components like the roof, windows, and foundation, though the basement has been renovated.
4. Is the lot size a significant feature?
Yes. At over 6,400 sqft, the land area is a standout feature, ranking above average city-wide. This provides valuable outdoor space and is a key differentiator from newer properties with smaller lots.
5. Where can I find exact historical sale prices?
The listing service provides estimated sold price ranges. To obtain the exact sale price history, you must request it directly via their email system, as this data is not published publicly on the site.