Property Overview
This two-storey home at 612 Stewart Street in Winnipeg's Buchanan neighbourhood presents a specific and practical value proposition. Built in 1970, it is notably newer than most on its street. With 1,192 sqft of living space, it offers above-average interior room for both its immediate street and the wider Buchanan area. A key feature is its renovated basement, adding functional living space. The property sits on a 4,048 sqft lot, which is compact relative to area norms. It has no garage or pool. The home last sold in 2017 for $18,600 and carries a current assessed value significantly below the city average.
Its appeal lies in its efficient size, recent updates below grade, and its newer construction vintage for the locale. It suits first-time buyers or practical investors seeking an entry point into the market with modernized essentials, or those who prioritize a manageable property with lower maintenance over expansive outdoor space. A thoughtful perspective is that its below-average assessed value, while indicating a modest property, could represent a lower tax burden and a clear-value foundation in an area where many homes are older.
Frequently Asked Questions
What does the "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this era and value range often means it has been finished into a livable space, such as a rec room or additional bedroom, with proper flooring, walls, and ceiling. It indicates the space is usable and modernized, not raw storage.
How should I interpret the lot size being "below average"?
The lot is smaller than most in Buchanan. This means less yard maintenance and potentially lower landscaping costs, which is a practical advantage. However, it also limits potential for large additions, pools, or extensive outdoor living spaces.
Why is the assessed value so much lower than the city average?
Assessed value is for taxation purposes and is influenced by the home's modest size, compact lot, and lack of features like a garage. It reflects the property's baseline characteristics rather than potential market price, which can be influenced by interior condition, updates, and market demand.
Is the 1970 build date an advantage?
Yes, particularly on this street. Being newer than most neighbouring homes can mean fewer concerns with outdated building materials or extremely aged major systems, potentially offering more modern wiring, plumbing, and insulation standards than much older stock.
Who would this property not suit?
It may not suit buyers seeking a large yard, space for multiple vehicles with a garage, or those who need extensive room for a growing family. The compact lot and lack of garage are the primary trade-offs for the affordable entry point and efficient living space.