Property Overview
This 1961 one-storey home at 811 Stewart Street in Winnipeg's Buchanan neighbourhood presents a straightforward opportunity centered on its land and location. The house itself is modest, with 1,014 sqft of living space and an unrenovated basement, complemented by a detached garage. Its primary appeal lies in its above-average 5,154 sqft lot for the immediate street, offering more outdoor space than many nearby properties. The assessed and recent sale values are consistently in the average range for the area, suggesting a stable, no-surprises investment profile. This property would suit a pragmatic first-time buyer, an investor looking for a land-value play, or a homeowner seeking a lower-entry point into the neighbourhood with the intent to renovate over time. Its value is more in its potential and positional stability than in immediate move-in readiness.
Key Details & FAQs
- Key Characteristics: 1,014 sqft one-storey home built in 1961, situated on a 5,154 sqft lot. Features include a detached garage and an unrenovated basement. No pool.
- Primary Appeal: The lot size is a standout feature for the street, ranking in the top 30% locally. The property's value metrics are consistently average for its neighbourhood and street, indicating a stable purchase without premium pricing for the area.
- Ideal Buyer: Best suited for buyers comfortable with a home that needs updates, those prioritizing lot size over finished living space, or investors seeking a property with fundamental value rooted in its land.
Frequently Asked Questions
1. How does the lot size compare to others?
The 5,154 sqft lot is notably larger than many on Stewart Street, ranking in the top 30%. It offers more outdoor space than the immediate local average of about 5,325 sqft.
2. Is the house newer or older than surrounding homes?
Built in 1961, it is slightly older than the average home on its street (avg. 1963) and in the broader Buchanan neighbourhood (avg. 1971), but is typical for Winnipeg overall.
3. What is the living space like compared to the city average?
At 1,014 sqft, the living area is below the Winnipeg city average of about 1,342 sqft. It is, however, very much in line with the typical home size on its street and in the Buchanan area.
4. How does the assessed value relate to the recent sale price?
The property last sold in October 2020 for $34,100. The current assessed value is $32,100, showing close alignment and suggesting stable market valuation in recent years.
5. What does the "unrenovated basement" imply?
This typically indicates the basement remains in its original or largely unfinished state. Buyers should budget for potential updates and anticipate a professional inspection to clarify its condition and any needed repairs.