Property Overview: 748 Pasadena Avenue, Fort Richmond
Key Characteristics & Appeal
This is a well-situated, one-storey home in the established Fort Richmond neighbourhood. Its key characteristic is a generous 7,277 sqft lot, which is notably larger than the typical Winnipeg property and offers significant outdoor space and potential. The 955 sqft living area is compact and efficient, supported by a renovated basement that adds functional space. Built in 1967, the home is of a typical vintage for the area.
The primary appeal lies in this combination of a substantial, above-average lot with a manageable and updated house. It presents an opportunity for buyers seeking space for gardens, recreation, or future expansion without the upkeep of a very large home. The assessed value of $370,000 is around the city-wide average, suggesting a stable entry point into the market.
This property would best suit first-time buyers, downsizers, or practical investors who value land size over square footage. It’s for someone who sees potential in outdoor space and is comfortable with a home whose interior size is modest compared to its lot. The renovated basement adds value for those needing a flexible space for a home office, family room, or rental suite.
Frequently Asked Questions
1. How does the home’s size compare to others nearby?
The living area of 955 sqft is below average for both Pasadena Avenue and the broader Fort Richmond area. This indicates a more compact main floor plan, which is offset by the additional space from the renovated basement.
2. Is the assessed value a reliable indicator of the likely selling price?
The assessed value of $370,000 is around the middle of the range for Winnipeg. However, the last known sale was between $345,000-$375,000 in mid-2021. Market conditions, the home’s updated condition, and its large lot will be the primary drivers of the final sale price.
3. What are the implications of having such a large lot?
The lot size is a standout feature, offering more privacy, yard space, and future possibilities (like a garage, workshop, or addition) than many city properties. Buyers should consider that while it offers potential, it also requires maintenance and may have associated costs.
4. What does “renovated basement” typically mean for a home of this age?
For a 1967 home, this likely includes updated finishes, proper moisture management, and modern electrical/insulation standards. It’s important to verify the scope of renovations, permits, and the quality of the finish to understand how it adds to the home’s livable space.
5. Who might this home not be suitable for?
It may not suit buyers who prioritize a large, open-concept main floor or multiple bedrooms on one level, given the below-average living area. Those looking for a brand-new home or a property that requires no immediate attention may also want to consider newer builds, though at a different price point.