Property Overview
This single-storey home at 801 Stewart Street in Winnipeg's Buchanan neighbourhood presents a straightforward, value-oriented opportunity. Built in 1961, its key appeal lies in its proportionally large lot and recent updates, offering a practical foundation in a mature community.
Key Characteristics & Appeal
The property sits on a 5,154 sqft lot, which is notably above average for Stewart Street itself, suggesting more usable outdoor space than many immediate neighbours. The home's living area is a modest 1,014 sqft, aligning with the neighbourhood standard but below the citywide average, indicating a compact, efficient layout. A key feature is the renovated basement, which adds valuable finished space. The detached garage and lack of a pool point to a low-maintenance property.
Its primary appeal is for the practical, value-conscious buyer. The below-average assessed and recent sale value, combined with the renovated basement and larger lot, suggests potential for those comfortable with a home whose interior square footage is cozy rather than expansive. It would suit a first-time buyer, an investor, or someone looking to downsize into a single-level home with a manageable yard. A thoughtful perspective is that this property represents the "land and potential" model—the value is anchored in the lot size and the already-completed basement renovation, leaving the main floor as a canvas for future updates according to a new owner's taste.
Frequently Asked Questions
1. Is the lot size a significant advantage?
Yes. The lot is in the top 30% for size on Stewart Street, offering more private outdoor space than many comparable properties on the same block, which is a less common find in established neighbourhoods.
2. What does "below average" assessed value indicate?
It primarily reflects the home's modest living area and age compared to broader city averages. It can represent a value entry point into the neighbourhood, but buyers should always consider current market conditions and have a professional inspection.
3. Who might this home not suit?
It may not suit those requiring extensive main-floor living space or a modern, open-concept layout, as the living area is compact. Families needing multiple large bedrooms or dedicated main-floor rooms might find it limiting.
4. What is the significance of the renovated basement?
It effectively adds usable living space beyond the main floor's square footage, which is a key functional upgrade. It's important to verify the quality, permits, and nature of the renovation (e.g., finished rec room, separate suite, etc.).
5. How does the property compare to the neighbourhood?
It is very typical for Buchanan in terms of living space and age. Its standout feature within the local context is the larger-than-average lot size for its street, while its value metrics are consistently below the area average.