Property Overview & Key Characteristics
This two-storey home at 617 Stewart Street in Winnipeg's Buchanan neighbourhood presents a specific and practical value proposition. Built in 1973, it is notably newer than most homes on its street and in the wider area, which is a key advantage. With 1,178 sqft of living space, it offers above-average interior room for the immediate locale. The home features a renovated basement, adding functional space. It sits on a modest 3,002 sqft lot and does not include a garage or pool.
Its primary appeal lies in its affordability and efficiency, as clearly reflected in its below-average assessed and recent sale values. This is a property for the pragmatic buyer: a first-time homeowner seeking an entry point into the market, an investor looking for a manageable rental property, or someone wishing to downsize and minimize property taxes and maintenance. The renovated basement adds immediate utility without the need for initial projects. A less obvious perspective is that its newer build date relative to the area may suggest more modern construction standards or systems, potentially offering peace of mind compared to much older neighbouring homes.
Frequently Asked Questions
1. What does the "below average" assessed value ranking mean for me?
It primarily indicates a lower municipal property tax assessment, which translates to lower annual property taxes compared to many homes in the city. It reflects the home's market position as an affordable option.
2. The lot size is noted as "below average." How significant is this?
The lot is smaller than most in Buchanan. This means less exterior maintenance, which can be a benefit for those seeking a low-maintenance yard. It may limit extensive landscaping or expansion potential but aligns with a efficient use of space.
3. The home is ranked as newer than most on the street. Why is that important?
A 1973 build date suggests it may have construction materials, electrical wiring, or plumbing systems that are more contemporary than those in pre-1960s homes common in the area, potentially reducing the likelihood of major system overhauls.
4. Is the lack of a garage a major drawback?
It depends on your needs. The property offers street parking. For a single vehicle owner or someone using the home as a rental investment, this may be acceptable. Buyers requiring secure storage or parking for multiple vehicles will need to factor this in.
5. Who would this property suit best?
It is ideally suited for budget-conscious first-time buyers, practical downsizers looking to reduce living costs and space, or investors seeking an affordable, renovated property with a straightforward rental profile in a well-established neighbourhood.