Property Overview: 649 Grierson Avenue, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This 1964-built, one-storey home in Fort Richmond presents a practical opportunity centered on its generous 8,516 sqft lot, which is notably larger than most in the area. The 1,148 sqft living space is functional and accompanied by a renovated basement and a detached garage. While the home itself is modest in size and assessed value relative to its immediate street and neighbourhood, its primary appeal lies in the land itself. This creates a distinct value proposition: you are acquiring a substantial, established lot in a mature community, with a livable house included.
The property would suit a buyer who sees potential beyond the current structure. It’s ideal for a hands-on individual or family looking for room to grow, garden, or add outdoor amenities without the constraints of a tiny yard. It could also appeal to a long-term planner who values the option to expand or redevelop the existing home in the future, given the lot size. For those simply seeking a turn-key, modern interior, this may not be the best fit, but for a pragmatic buyer who prioritizes land over lavish finishes, it offers a solid foundation.
Frequently Asked Questions
1. Is the lot size a major advantage?
Yes. The lot is significantly larger than average for Fort Richmond, the street, and Winnipeg overall. This provides rare extra outdoor space, privacy, and potential for additions, landscaping, or recreational use.
2. The assessed value seems low. What does that indicate?
The assessment is below average for the street and neighbourhood, which generally reflects the home’s age, size, and features relative to others. This can sometimes translate to a relatively lower property tax burden, but the market sale price is determined by current buyer demand.
3. What is the condition of the home?
The listing notes a renovated basement, suggesting some updates. As a home from 1964, prospective buyers should budget for a thorough inspection to understand the condition of major systems like roof, wiring, and plumbing, which may be original or nearing the end of their lifespan.
4. How does the sold history from 2019 affect today's price?
The 2019 sale price provides historical context but is not a direct indicator of current value. The Winnipeg market has experienced changes since then. Current pricing will be based on recent comparable sales, present condition, and market dynamics.
5. Who are the most likely neighbours or buyers for this street?
Grierson Avenue is an established, mature street. Neighbours are likely long-term residents or families who appreciate the quiet, settled nature of Fort Richmond. The property would likely attract similar buyers looking for stability and space, or perhaps investors/developers noting the lot's potential.