660 Banning Street

Property Summary: 660 Banning Street, Winnipeg

Section 1: Key Characteristics & Appeal

This 1928 one-storey home in Daniel McIntyre presents a practical opportunity centered on its lot and location. At 929 sq ft, the living space is compact and below area averages, but it sits on a notably larger-than-average lot (3,285 sq ft) for the neighbourhood. This generous land parcel is the property's standout feature, offering clear potential for expansion, gardening, or outdoor living that is uncommon for the area. The home features a renovated basement and a detached garage.

Its appeal lies in being a relatively affordable entry into a central Winnipeg neighbourhood, with the land providing a tangible asset and future flexibility. The recent sale in August 2024 suggests a move-in-ready condition. It would best suit a first-time buyer, an investor, or a downsizer who values a larger outdoor space over a large interior and sees potential in the lot size. A thoughtful perspective is that while the house itself is modest, you're acquiring a land position that ranks highly within the immediate community, which could be a strategic long-term holding in an evolving inner-city area.

Section 2: Frequently Asked Questions

1. Is the house small compared to others nearby?
Yes. At 929 sq ft, the living area is below the average for both Banning Street and the wider Daniel McIntyre neighbourhood. This indicates a cozy, efficient layout rather than a spacious one.

2. What does the "above average" land area ranking mean?
The 3,285 sq ft lot ranks in the top 8% on its street and top 19% in the neighbourhood for size. Simply put, the yard is significantly larger than most comparable properties nearby.

3. How does the assessed value relate to the recent sale price?
The 2024 sale price was $220,000, while the assessed value is listed as $21,900. It's important to understand that the assessed value is for taxation purposes only (calculated using a provincial formula) and is not an indicator of market value. The sale price is the true market indicator.

4. What is the significance of the 1928 build year?
Built in 1928, the home is newer than many on its street and in the neighbourhood, where average build years are 1918-1920. This could imply slightly newer construction materials and systems, though a full inspection is still essential.

5. Who might this property not suit?
It may not be ideal for buyers seeking a large, move-in-ready interior space without renovation plans. The value proposition is weighted toward the lot and location, with the home itself offering efficient, compact living.