Property Overview: 776 Stewart Street, Winnipeg
Key Characteristics & Appeal
This is a classic one-storey home on a standard-sized lot in the Buchanan neighbourhood. Built in 1959, it presents a straightforward, no-frills opportunity. Its primary appeal lies in its value proposition: the recent sale price and assessed value are notably below averages for the immediate street, neighbourhood, and city. This suggests an entry point into homeownership or a strategic investment purchase.
The home’s living space is modest at 1,020 sqft, fitting for a small household or someone looking to downsize. The detached garage offers flexibility for parking or storage. Its appeal is grounded in practicality rather than luxury, suited for a buyer comfortable with a home that may require updates or who prioritizes land value and location over a modern, turn-key condition.
This property would best suit a first-time buyer seeking an affordable foothold, an investor looking for a rental property with a lower entry cost, or a hands-on individual interested in a home they can personalize over time. It’s a pragmatic choice for those who see potential beyond the current specs.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is a municipal calculation for tax purposes, often based on older data and specific formulas. A value significantly below area averages can indicate the home was assessed before recent market shifts or that its characteristics (like age, size, or condition) are modest compared to broader city stock.
2. Is the lot size a positive feature?
At just over 5,000 sqft, the lot is typical for the street and Buchanan. It’s not exceptionally large, but it provides standard outdoor space for a city home. For some buyers, a "standard" lot is an advantage, as it means less maintenance than a larger property while still offering room for a garden or patio.
3. What does the "below average" ranking for Year Built mean?
Ranked in the top 88% on its street (where #1 is newest), this means the home is older than most on Stewart Street. This isn’t unusual for a 1959 home in an established area. It suggests the immediate block may have seen some infill or newer construction, but the home’s age is consistent with the neighbourhood’s overall character.
4. Who might this property NOT suit?
It may not suit buyers seeking a modern, low-maintenance home without renovation projects, or those needing significant space for a growing family. The one-storey layout and modest square footage prioritize efficiency over expansiveness.
5. The home sold recently. What does the sale price tell us?
Selling below area averages, the price reinforces this as a value-focused listing. It could reflect the home’s condition, layout, or the seller’s motivation. For future buyers, it sets a recent, transparent benchmark for value in this specific location.