Property Summary: 1008 Isbister Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a compelling opportunity centered on its generous proportions and strong comparative value. Its primary appeal lies in offering above-average space on multiple fronts: a large 7,197 sqft lot, a spacious 1,514 sqft living area, and a renovated basement. Features like an attached garage and a pool add to its functional appeal. The home, built in 1978, is newer than many in its immediate area and neighbourhood.
The data suggests this property stands out locally. It ranks in the top tier for assessed value and living area compared to homes on its street and in Buchanan, indicating it is perceived as a higher-value asset in its community. This creates a unique position—it's a home with substantial indoor and outdoor space that also shows strong value retention within its micro-market.
It would suit buyers looking for a single-level layout with room to grow or entertain, and who prioritize lot size. It’s particularly suited for someone seeking a home that outperforms its local peers in key metrics, offering a blend of space, updates, and established neighbourhood character.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the last sale price?
The home was last sold in November 2020 for $44,400. The current assessed value is $47,300, which is higher, suggesting an increase in its municipal valuation over that period.
2. Is the lot size typical for the area?
No, the lot is significantly larger than average. At 7,197 sqft, it is in the top 17% on Isbister Street and in the Buchanan neighbourhood, where average lots are around 6,300 sqft and 6,011 sqft, respectively.
3. What does the "Elite" ranking for assessed value mean?
This means the home's municipal assessment is in the top 5% on its street and top 3% in the Buchanan neighbourhood. This typically indicates it is assessed higher than most comparable nearby properties, which can reflect its larger size, renovations, and overall condition.
4. Is a 1978-built home considered older for this area?
Actually, it is newer than average for its immediate context. The average build year for comparable homes on Isbister Street is 1971, and in Buchanan is 1971, placing this home in the top 14% and 13% respectively for being a newer build.
5. How does the living space compare to a typical Winnipeg home?
At 1,514 sqft, the living area is above the Winnipeg city-wide average of 1,342 sqft for comparable homes, placing it in the top 30%. It is especially spacious compared to local norms, ranking in the top 9% on its own street.