Property Overview
This one-storey home at 70 Newcastle Road in Fort Richmond presents a practical opportunity in a well-established Winnipeg neighbourhood. Built in 1973, the 1,274 sqft house sits on a 6,412 sqft lot and features an attached garage and a renovated basement. Its most compelling characteristic is its assessed value, which ranks in the top tier for its immediate street and above average for the wider area, suggesting strong value retention. While the living space is average for the locale, the updated basement adds functional space. The lot size is smaller than others on Newcastle Road but remains above the citywide average, offering a manageable yard. This property suits first-time buyers seeking a move-in-ready home with modernized basics, or downsizers looking for single-level living without a sprawling property to maintain. Its appeal lies in its financial positioning—offering above-average value in a stable area—coupled with the low-maintenance convenience of a bungalow and recent updates.
Frequently Asked Questions
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, the presence of a proper egress, and whether it includes a bathroom or kitchenette to understand its full utility and value.
How does the smaller lot size impact the property?
While the lot is smaller than most on its street, it is still above the Winnipeg average. This typically means less yard maintenance, which can be a benefit for many, but may limit expansion possibilities or the desire for extensive landscaping.
The assessed value is ranked highly. Does that correlate with the selling price?
A high assessment relative to neighbours often indicates the property is in good condition or has desirable features, and can be a positive signal for value. However, the final sale price is determined by the market. The home last sold in May 2024 for between $405,000 and $435,000.
Is the home's 1973 build date a concern?
The year built is average for Fort Richmond. While the major systems (roof, wiring, plumbing) are likely updated or due for inspection due to the home's age, the renovated basement suggests some modernization. A thorough inspection is always recommended for homes of this era.
What is the neighbourhood like?
Fort Richmond is a mature, family-friendly neighbourhood near the University of Manitoba. It offers a mix of residential streets, schools, and local amenities. The proximity to the university provides access to facilities and can be attractive to staff, students, or those seeking a stable community.