Property Summary: 95 Leeds Avenue, Fort Richmond, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 95 Leeds Avenue is a practical property that presents a clear value proposition. Its key characteristic is its compact, efficient size at 955 sqft of living space, which is notably below average for the immediate street and neighbourhood. This is balanced by a renovated basement and an attached garage. The lot size is a standout feature, offering a generous 6,838 sqft parcel that is above average city-wide, providing ample outdoor space.
The appeal lies in its affordability and low-maintenance footprint, underscored by a recent sale price in the mid-$40k range and a modest assessed value. It suits first-time buyers or investors seeking an entry point into the stable Fort Richmond area without a large upfront investment. It would also appeal to downsizers or those seeking a minimalist lifestyle who prioritize a larger yard over interior square footage. A less obvious perspective is its potential as a "land value play"—the lot itself represents a significant portion of the property's worth, which could be attractive for future redevelopment or expansion, subject to zoning.
Section 2: Frequently Asked Questions (FAQs)
1. Is the house unusually small?
Yes. The living area is significantly smaller than most homes on Leeds Avenue and in Fort Richmond, ranking in the bottom 10% locally. This is the defining trait of the property.
2. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, permits, and whether it adds legal living space.
3. Why is the assessed value so much lower than the recent sale price?
Municipal assessed values in Manitoba are for tax purposes and often lag behind market values. The sale price reflects what a buyer recently paid in the open market.
4. Is the large lot a major advantage?
Potentially. The lot is larger than the city average, offering more private outdoor space. For the right buyer, this outdoor potential can offset the smaller interior. It may also contribute to the property's long-term value.
5. How does the age of the home (1973) affect it?
While built in 1973, the home is actually the newest on its street. This suggests major structural components may be in relatively good condition compared to immediate neighbours, but systems like roofing, plumbing, and wiring will still be at an age where updates or careful evaluation are needed.