4 Richmond Way – Property Summary
Key Characteristics & Buyer Profile
This is a 1989-built home with 1,352 sq ft of living space, situated on a 1,497 sq ft lot in the West Wolseley neighbourhood of Winnipeg. Where it stands out most is its age: it’s the newest house on its street, and ranks 1st out of 36 homes in the community for build year—an unusual find in a neighbourhood where most homes date from around 1950. Living space is above average locally (1st on the street, 10th in the community), and the assessed tax value of $289,000 is slightly above the street average but well below the community and city norms. Lot size, however, is on the smaller side—close to the street average but significantly less than the typical West Wolseley property.
The appeal here is a balance of newer construction and a manageable footprint. Buyers who want a home that’s more recent and likely requires less immediate updating—especially compared to the older stock nearby—will find this attractive. It’s also priced below the typical assessed value for the area, which could mean a more accessible entry point into a desirable neighbourhood. The small lot may not suit someone looking for extensive outdoor space, but it could appeal to those wanting a lower-maintenance property. Ideal buyers include first-time homeowners, downsizers, or anyone prioritizing interior condition and modern build quality over yard size.
Five Possible FAQs
1. Why is the assessed value so much lower than the neighbourhood average?
West Wolseley has many older, larger homes that have appreciated significantly. This property’s 1989 build and smaller lot likely keep its assessed value below the community median, even though it’s above the street average.
2. How does a 1989 build compare to the older homes in the area?
It’s newer than about 97% of homes in West Wolseley, which means it may have more modern framing, wiring, and insulation standards. That said, it’s still over 35 years old, so some systems could need attention depending on maintenance history.
3. Is the small lot a drawback in this neighbourhood?
It depends on your priorities. The lot is typical for the street but small by community standards. If you value yard space, it might feel tight. But a smaller lot often means less upkeep and a lower purchase price relative to neighbours.
4. How does the living space compare to similar properties?
It’s above average on the street and in the community, and essentially average city-wide. At 1,352 sq ft, it’s a solid size for a 2–3 bedroom home, but not oversized.
5. What’s the significance of the ranking data?
The rankings compare this home to others of the same type within the street, community, and city. The key takeaway: it’s outstanding for build year, strong for living space, average for assessed value relative to the street, and below average for lot size. Use the percentages to gauge how it stacks up for each metric.