Property Overview & Key Characteristics
816 Banning Street is a compact, one-storey home with an unrenovated basement, built in 1928 on a notably generous lot for its Daniel McIntyre neighbourhood. Its primary appeal lies in its positioning as an affordable entry point into a central Winnipeg community. The 864 sqft living area is modest, ranking below average for size both locally and citywide. However, the property holds its value well within its immediate context, with an assessed value that is above average for Daniel McIntyre. The significant lot size of 3,276 sqft offers valuable outdoor space and future potential that is uncommon for homes of this vintage in the area.
This home would best suit a first-time buyer, an investor, or a downsizer comfortable with a project. It’s for someone prioritizing location and land size over move-in-ready finishes, who sees potential in the existing structure and the opportunity the large lot presents. A thoughtful perspective is that while the home itself is smaller and older, its above-average lot size and solid assessed value for the neighbourhood suggest it is a "land-holder" property—where the underlying land is a key component of its worth and future appeal.
Frequently Asked Questions
1. How does the smaller living space compare to nearby homes?
At 864 sqft, the home's living area is below the average for both Banning Street and the wider Daniel McIntyre neighbourhood. This indicates a more compact layout compared to many area homes.
2. Is the assessed value typical for the area?
Yes, and it's actually a positive note. The assessed value of $22,900 is above the average for the Daniel McIntyre neighbourhood, suggesting the property is valued favorably relative to its local peers.
3. What does the large lot size mean for a buyer?
The 3,276 sqft lot is significantly larger than many neighbouring properties. This provides more private outdoor space and could offer greater flexibility for future additions, landscaping, or other outdoor uses than is typical.
4. The home was last sold in 2018. What does that indicate?
The sale seven years ago suggests the current owners have had a stable tenure. The sale price at that time was close to the current assessed value, which may provide a useful benchmark for market trends on the street.
5. What is the immediate neighbourhood like?
The listing shows several similarly valued and assessed properties on the same block and nearby streets, indicating a consistent, established streetscape. The proximity of five neighbouring addresses on Banning Street alone points to a traditional, close-knit block structure.