Property Overview: 89 Greyfriars Road, Fort Richmond, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1971, offering a practical and low-maintenance footprint. With 1,076 sqft of living space and a renovated basement, it provides efficient use of its layout. The home sits on a 6,484 sqft lot, which is notably larger than the Winnipeg city average, offering valuable outdoor space relative to many urban properties.
Its primary appeal lies in its position as a solid, average-value home within its immediate neighborhood and the broader city. The data suggests it’s not an outlier in price or size, but a stable, predictable property. A thoughtful perspective is that it represents a "blank canvas" opportunity: the lot size is a standout asset city-wide for future expansion or landscaping, while the home itself is a functional starting point. It last sold in late 2022 for a price consistent with its assessed value, indicating a stable market perception.
This property would best suit first-time buyers, downsizers, or practical investors looking for an entry into the Fort Richmond area without premium pricing. It’s for someone who values a larger yard over a larger house and sees potential in a home that is comfortably average in its metrics, allowing for personalization without the pressure of an already-maximized premium property.
Frequently Asked Questions
1. How does this home’s value compare to its neighbors?
Its assessed value is around average for Greyfriars Road itself but is below the average for the wider Fort Richmond neighborhood. This can indicate a potentially more affordable entry point into the area.
2. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. Buyers should inquire about the finishes, permits, and whether it includes a separate entrance or legal suite potential.
3. Is the lack of a garage a significant concern?
The property has no garage. For some buyers, the larger lot may offer space to add one in the future, subject to bylaws. This is a trade-off to consider against the home’s price point.
4. The home is over 50 years old. What should I check?
While the systems and roof have likely been updated over time, a thorough inspection for foundational integrity, plumbing, electrical (especially aluminum wiring common in that era), and insulation is strongly recommended.
5. How stable has the property’s value been?
Based on its last sale price in late 2022, which aligned with its current assessed value, it appears to have held its market value without dramatic swings, suggesting it’s not a speculative asset but a steady one.