Property Overview: 7 Tulane Bay, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Fort Richmond offers a practical and grounded opportunity. Built in 1966, it is actually one of the newer homes on its own street, which can be an advantage for systems and structure. With 1,264 sqft of living space, it provides above-average roominess for the immediate area. The lot size is a notable feature, ranking well above the city-wide average, offering generous outdoor space that is less common in newer developments.
The primary appeal lies in its balanced, no-frills profile within a mature neighbourhood. The home features a renovated basement, adding functional living space without the maintenance concerns of a pool or the cost of a built-in garage. It suits a pragmatic buyer—perhaps a first-time homeowner, a downsizer, or an investor—who values solid square footage, a large yard, and a renovated lower level over high-end finishes or premium amenities. It’s a property for those who see potential in space and location rather than turn-key luxury.
Section 2: Frequently Asked Questions
1. What does the "above average" ranking for living area really mean?
It means that within the group of 35 directly comparable homes on Tulane Bay, this home's living space is larger than most, ranking 8th. You're getting more interior space than is typical for this specific street.
2. Is the assessed value a reliable indicator of the selling price?
The assessed value (40.10k) is for municipal tax purposes and is typically much lower than market value. Recent sold price data for the area is a far better guide. For the exact historical sold price of this property, you can request it via email from the listing source.
3. There's no garage. How does that impact value and livability in Winnipeg?
The lack of a garage is a trade-off reflected in the price, making it more accessible. For some buyers, the large lot presents an opportunity to add a garage or shed later. For others, it means budgeting for parking pad installation or accepting street parking.
4. The home is 60 years old. What should I be mindful of?
While the renovated basement is a plus, a home of this age will have original components, like the roof, windows, plumbing, and electrical, that may need evaluation or future updating. Its newer rank on the street suggests some neighbours may have older systems.
5. How does the large lot size benefit me?
A 6,594 sqft lot that ranks above average city-wide provides valuable outdoor space for gardening, recreation, or future expansions like a deck, addition, or detached garage. It offers a sense of privacy and room that is increasingly scarce, which can be a long-term asset.