Property Overview: 705 Stewart Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, renovated one-storey home in the Buchanan neighbourhood, built in 1963. Its primary appeal lies in a combination of above-average living space and a recently updated basement, all on a solid, standard-sized lot. At 1,285 sqft, the living area is notably larger than most comparable homes on its street and in the immediate area, offering more interior room than one might expect from its exterior. The renovated basement adds functional, modern space, increasing the home's utility.
The property suits practical buyers looking for a move-in-ready foundation with room to grow. It’s ideal for a first-time homeowner who values more interior space over a massive yard, or for downsizers seeking a manageable single-level layout without sacrificing room for guests or hobbies. The detached garage offers flexibility for parking, storage, or a workshop. From an investment perspective, the home’s assessed value ranks well above average for its local area, suggesting it is positioned solidly within its market context. The recent sale price indicates strong buyer interest.
Frequently Asked Questions
1. How does the lot size compare to others?
The land area of 5,154 sqft is above average for Stewart Street itself, placing it in the top 30% of similar properties on the street. Within the broader Buchanan neighbourhood and citywide, it is very close to the typical average.
2. The home was built in 1963. What should I consider?
While the building age is typical for the street, the key feature is the renovated basement, which addresses a major modernization need. Buyers should still ensure that core components like the roof, windows, and major systems have been appropriately maintained or updated over time.
3. Is the living space truly larger than similar homes?
Yes. The 1,285 sqft of living area ranks in the top 6% on Stewart Street and the top 14% in Buchanan, meaning it offers significantly more interior space than most direct comparables in the vicinity.
4. What does the assessed value tell me?
The assessed value of $34,200 is above the local averages for both the street and the Buchanan area. It’s important to note that the recent sale price of $41,500 reflects the current market value, which can differ from the assessed value used for taxation purposes.
5. Who would this property suit best?
This home is an excellent fit for buyers prioritizing interior space and modernized finishes over a new build. Its single-storey layout and renovated basement appeal to those seeking convenience and move-in readiness, from young families to retirees looking to downsize without feeling cramped.