Property Overview
This 2024-built bi-level at 898 Banning Street is a modern infill property in Winnipeg's Daniel McIntyre neighbourhood. With 986 sqft of living space and a renovated basement, it sits on a 3,262 sqft lot. The home's standout feature is its assessed value of $370k, which ranks in the top 1% for both its street and neighbourhood, indicating a premium valuation for the area. Its recent construction date is exceptionally rare in a community where most homes are over a century old.
Key Characteristics & Appeal
This home’s primary appeal lies in its combination of brand-new construction within an established, central neighbourhood. Buyers get a modern, low-maintenance living space without sacrificing the character and convenience of a mature community. The renovated basement adds functional space. Its elite assessed value on the street and in Daniel McIntyre suggests it is viewed as a premium property locally, though it sits around the city-wide average. This could appeal to value-conscious buyers looking for new builds who are priced out of newer suburban developments, or to investors seeking a modern rental property in a high-demand rental area. The lot size is above average for the immediate area, a notable perk for infill properties which often have minimal yard space.
It would best suit first-time buyers wanting a turnkey home, downsizers seeking single-level living with a basement for guests or storage, or pragmatic investors looking for a newer asset with potentially lower immediate repair costs. A thoughtful perspective is that this property represents the changing face of central Winnipeg neighbourhoods, offering modern amenities while its value is deeply anchored to its specific, in-demand location rather than sheer size.
Frequently Asked Questions
1. Why is the assessed value so high for the neighbourhood?
The assessed value ranks in the top 1% for Daniel McIntyre primarily due to the home being newly built in 2024. It reflects the cost of modern construction and finishes, which stands in sharp contrast to the neighbourhood's average home age of over 100 years.
2. What does the "bi-level" design mean for daily living?
A bi-level typically features a short flight of stairs to the main living area (kitchen, living room) and another short flight down to bedrooms or up to additional rooms. It offers good separation of space but involves stairs between common areas and bedrooms.
3. Is the lot size sufficient for outdoor space?
At 3,262 sqft, the lot is above average for both Banning Street and Daniel McIntyre. For a new infill home, this provides a decent backyard space, which is often compromised in such developments.
4. How does the living area compare to nearby homes?
At 986 sqft, the living area is below the average for Banning Street (~1,228 sqft) and the city overall. This reflects a modern, efficient floor plan rather than the larger, often extended footprints of older homes.
5. There are two recent sale prices listed. Which one applies to this home?
The sale in January 2025 for $429,000 is the most recent and relevant transaction for this specific property. The older sale (August 2022 for $290k) likely refers to the previous home that stood on the lot before the current one was built.