Property Overview: 749 Stewart Street, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1962 on a notably spacious lot in the Buchanan neighbourhood. Its primary appeal lies in the balance between its compact, renovated living space and its above-average land area of over 5,150 sqft, offering a blank canvas for expansion, gardening, or outdoor living. The home itself is efficient, with just over 1,000 sqft of living area and a renovated basement, suggesting a low-maintenance interior. Its recent sale price and assessed value are consistently below average for the area, indicating a potentially accessible entry point into the market.
The property suits first-time buyers or downsizers seeking a manageable home with untapped potential in the lot itself. It’s also a practical fit for value-oriented investors or buyers who prioritize land size over a large existing footprint, seeing the opportunity in what could be added or developed outdoors rather than just in the finished interior. A less obvious perspective is that its "below average" metrics for living area and value on its specific street could signal a more private, less densely built setting compared to immediate neighbours, adding a perceived sense of space.
Frequently Asked Questions
1. What does "renovated basement" likely include?
While specifics aren't listed, the term typically indicates finished living space, possibly including updated flooring, drywall, and lighting. It’s important to verify the scope, permits, and the condition of foundational elements like plumbing and electrical.
2. How does the lot size compare practically?
At 5,154 sqft, the lot is larger than many in the immediate area (top 30% on its street). This provides significant extra outdoor space compared to newer subdivisions, allowing for additions, a large garage, or extensive landscaping.
3. What is the neighbourhood (Buchanan) like?
The data shows homes here are generally older (this home is newer than 82% of Buchanan comparables) and on smaller lots than the city average. This suggests a mature, established community where this particular property stands out for its relatively larger parcel of land.
4. Why is the assessed value much lower than the city-wide average?
The city-wide average includes all property types and values across Winnipeg. This home’s assessed value is in line with similar, modest-sized homes in various neighbourhoods, reflecting its specific characteristics rather than a city-wide norm.
5. Are there any obvious concerns from the data?
The living area is below average for both the street and city-wide, confirming this is a compact home. Buyers should ensure the layout and size meet their needs, as the value proposition hinges on the land and the basement renovation, not expansive main-floor square footage.