Property Overview: 711 Isbister Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a practical opportunity, particularly for its land value and location. Built in 1962, the 943 sqft house sits on a 5,121 sqft lot. Key features include a renovated basement and a detached garage. Its appeal lies in its solid fundamentals: the lot size is generous for the immediate area, offering potential for expansion or outdoor space in an established neighbourhood. The renovated basement adds immediate functional living space.
The home would suit first-time buyers or practical investors looking for an entry point into the Winnipeg market with a footprint that allows for future updates. It’s also a fit for those who prioritize lot size over a larger house, seeing value in the land itself. A less obvious perspective is that its "below average" metrics for the street and area in categories like living area and year built may represent a value proposition, as you’re paying less for the structure but securing a desirable parcel of land in a mature community.
Section 2: Frequently Asked Questions
1. How does the lot size compare to the neighbourhood?
The 5,121 sqft lot is below the average for Isbister Street itself (approx. 6,300 sqft) but ranks in the top 82% on the street, meaning it is still larger than many nearby properties. It offers a substantial yard for the area.
2. What is the significance of the assessed value versus the last sale price?
The home has an assessed value of $30,100, but last sold for $300,000 in March 2021. This large discrepancy is normal; municipal assessed value for taxation purposes is typically much lower than market value. The sale price is the relevant figure for current market comparison.
3. Is the living space considered small?
At 943 sqft, the living area is below the averages for the street, neighbourhood, and city. This confirms the home is more compact, making the renovated basement a key feature for adding functional space.
4. What does the "ranking" information tell a buyer?
The rankings compare this home against peers on its street, in Buchanan, and citywide. It shows that while the house itself is older and smaller than many comparables, its lot size is a relative strength on the street, and its last sale price was competitive for the wider city.
5. Who might this property not suit?
It may not suit buyers looking for a move-in-ready home with modern, open-concept layouts or those needing significant above-grade square footage immediately. The value here is grounded in the land and the potential of the existing structure.