1851 Bannatyne Avenue W

Property Overview

This one-storey home on Bannatyne Avenue W in Brooklands is a classic Winnipeg character property built in 1925. It sits on a standard city lot of approximately 3,867 sq ft. The home itself offers 1,189 sq ft of living space, which is notably above average for the Brooklands neighbourhood. Key features include a detached garage and no basement. It last sold in November 2023 for $130,000, and its municipal assessed value is significantly below both area and citywide averages.

Section 1: Key Characteristics & Appeal

• Key Characteristics: This is a century-old, one-storey home with practical features like a detached garage. Its living area is spacious for the immediate area, offering more interior room than many neighbouring homes. The property's most striking characteristic is its financial profile: both its recent sale price and its assessed value are well below typical benchmarks for the street, neighbourhood, and city, indicating a potentially accessible entry point.

• Where Its Appeal Lies: The primary appeal lies in value and opportunity. It represents a lower-barrier entry into homeownership, ideal for a buyer comfortable with a home from the 1920s. The above-average interior space for Brooklands is a practical advantage. A more nuanced perspective is its potential for an investor or homeowner looking for a property where the land and location provide the core value, with the existing structure offering flexibility for renovation, expansion, or long-term redevelopment.

• Suitable For: This property would best suit a pragmatic first-time buyer, a hands-on investor, or a downsizer seeking a single-level layout without a premium price tag. It appeals to those who value location and lot size over modern finishes and are prepared for the maintenance or update projects typical of a home of this age. It is less suited for those seeking a move-in-ready modern home or who require a basement for storage or additional living space.

Section 2: Frequently Asked Questions

1. What does the below-average assessed value mean for property taxes?
A lower assessed value typically results in a lower municipal property tax bill, which is a ongoing cost advantage. However, it's important to get an official tax estimate, as mill rates vary.

2. Are there any concerns with a home built in 1925?
Homes of this age require diligent inspection. Key focuses should be the foundation, roof, wiring, plumbing, and insulation to understand the scope of any needed updates or repairs.

3. The home has no basement. What are the implications?
This means all mechanical systems (furnace, water heater) and utilities are on the main floor, which can simplify access for maintenance. However, it significantly reduces storage space and eliminates the potential for a traditional basement suite or rec room.

4. How does the living area compare to nearby homes?
At 1,189 sq ft, the living area is larger than the average Brooklands home (920 sq ft avg.), which is a relative strength. It offers more interior space than many immediate comparables.

5. The sale price is noted as "below average" for the city. What's the context?
While the price is below the Winnipeg average, it is broadly in line with the market for older, character homes in the Brooklands area. It reflects the home's age, condition, and features rather than an anomaly.