Property Overview
This one-storey home at 701 Patricia Avenue in Fort Richmond presents a practical and comfortable living opportunity. Its key appeal lies in its balance of a renovated basement and a manageable, single-level layout within a mature neighbourhood. The home sits on a lot that is slightly more compact than others on the street, which can mean less yard maintenance. With living space and assessed value consistently ranking around the average for the area, it represents a stable, mid-market option. The detached garage adds functional storage or workshop space.
This property would suit first-time buyers seeking a solid starter home with some updates already complete, or downsizers looking for a bungalow-style layout without the need for extensive stairs. Its average metrics suggest it’s a straightforward property without extreme highs or lows, ideal for someone seeking value and livability over premium size or luxury.
Frequently Asked Questions
What does the "renovated basement" include?
The listing confirms the basement is renovated, but the specific scope (e.g., flooring, ceilings, bathroom, legal suite) is not detailed. This would be a key point to clarify with the seller or agent to understand the finish quality and potential uses.
How does the lot size impact the property?
At 5,826 sqft, the lot is below average for both Patricia Avenue and Fort Richmond. This typically translates to a smaller backyard, which could be a positive for those wanting lower maintenance, but a consideration for those desiring extensive outdoor space or future expansion.
Is the assessed value a reliable indicator of the selling price?
The assessed value ($40.40k) is for municipal tax purposes and is historically much lower than market value in Winnipeg. Recent sold price ranges for similar homes on the street (from $31.5k to $34.5k in 2017) are also not reflective of current market conditions. A professional market evaluation is essential.
What are the implications of the home's age?
Built in 1966, the home is of a common vintage for the area. While the basement has been renovated, the age suggests potential attention may be needed to major original components like the roof, windows, or plumbing systems in the main house. A thorough inspection is advised.
How does this home compare to others on the street?
The data shows this home is very typical for Patricia Avenue. Its living area, year built, and assessed value are all around the neighbourhood average. This indicates you are getting a standard home for the street, not an outlier, which can provide peace of mind regarding value and community fit.