This 2018-built bi-level home at 1914 Bannatyne Avenue W in Brooklands presents a distinct profile. Its key appeal lies in its modern construction, standing out as one of the newest homes on its street and in the wider area. With 902 sqft of living space and an unrenovated basement, it offers a compact, low-maintenance footprint. The property sits on a smaller lot (2,474 sqft), which is common for newer infill developments in established neighbourhoods.
This home would suit a first-time buyer, an investor, or someone looking for a modern, efficient property without the upkeep of an older house. Its recent sale price of $34.5k (July 2024) is notably higher than its assessed value and significantly lower than its previous 2019 sale price of $300k, indicating a unique transaction—possibly a land or title transfer—rather than a conventional market sale. This makes it a property for those with a specific, informed strategy, not a typical residential purchase.
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Why is the recent sale price so much lower than the previous sale and the assessed value?
This is the most critical point. A sale price of $34.5k on a property last sold for $300k and assessed near $28.7k typically indicates a non-arms-length transaction. It could be a transfer between family members, a corporate entity adjustment, or a sale of the land interest only, not representing the full market value of a standard home purchase.
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What are the advantages of a newer home in this area?
Built in 2018, this bi-level is significantly newer than most neighbouring homes. Buyers benefit from modern building codes, materials, and systems, which can mean lower immediate repair costs and greater energy efficiency compared to the area's older housing stock.
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Who might this property not suit?
It is not ideal for buyers seeking a large lot, extensive outdoor space, or a traditional neighbourhood character. The lot size is below average. Additionally, those needing a finished basement or garage would need to factor in the cost and effort of renovations and adding parking.
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How does the living space compare?
At 902 sqft, the living area is manageable and average for similar homes in Brooklands. However, it is compact by city-wide standards. The unrenovated basement presents an opportunity to add customized living space, subject to permits and budget.
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What does the assessed value indicate?
The assessed value of $28.7k is above average for its immediate street but below the Winnipeg average. It's important to understand that this value is for taxation purposes and, as the unusual sale history shows, may not reflect current market value in a standard open sale.