Property Overview & Key Characteristics
This 1950-built, one-storey home on a 4,568 sqft lot in Buchanan presents a straightforward opportunity. Its key appeal lies in its renovated basement and detached garage, offering functional space and storage. With a modest 615 sqft of living area, it is one of the smaller homes in its immediate area, which positions it as an accessible entry point into the neighbourhood. The lot size is also slightly below the local average, suggesting a manageable outdoor space.
The property would likely suit first-time buyers or investors seeking a lower-priced foothold in Winnipeg. Its below-average assessed and historical sale values indicate a potentially lower barrier to entry. A thoughtful perspective is that this home, while compact, offers the chance to live in Buchanan without the premium often attached to larger, newer builds in the area. It’s a practical choice for those who prioritize location and the essentials of homeownership—a solid structure, a private garage, and a renovated basement—over square footage.
Frequently Asked Questions
1. Is the house particularly small compared to its neighbours?
Yes. The living area of 615 sqft ranks it below average not only on its own street but also within the wider Buchanan neighbourhood and city overall. It is among the most compact homes in the immediate area.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but the specific scope, quality, and permits for this work are not detailed here. This would be a key point for a buyer to investigate further during a viewing or through their agent.
3. How does the property's value compare to the area?
Both its assessed value and its last known sale price are below the average for comparable homes on Magnan Street, in Buchanan, and across Winnipeg. This suggests it may be priced accessibly within its market.
4. What is the significance of the lot size ranking?
The land area is below the average for Magnan Street and Buchanan, but ranks closer to the city-wide average. This means the yard is manageable and typical for many Winnipeg homes, though not as spacious as some others in the immediate vicinity.
5. Are there any obvious concerns from the data provided?
The age of the home (76 years) is a consideration. It is the oldest on its street and older than most in the neighbourhood. While it has a renovated basement, the overall condition of the original structure, roof, wiring, and plumbing should be factored into any decision.