Property Summary: 908 Banning Street, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home on Banning Street in Daniel McIntyre presents a solid, character-filled option in a central Winnipeg neighbourhood. Built in 1915, its key appeal lies in its above-average proportions for the area, featuring 1,356 sqft of living space and a 3,261 sqft lot, both ranking in the top 30% locally. The home includes a renovated basement and a detached garage. Its recent sale price suggests it was positioned as a value-conscious entry into the market, particularly for the inner city.
The property suits buyers looking for a home with classic architecture and more spacious interiors than many in the neighbourhood, without a premium price tag. It’s a practical choice for those who value location and lot size over modern finishes, and it may appeal to hands-on owners comfortable with the ongoing care an older home requires. A less obvious perspective is its strong standing within the immediate area—it consistently ranks above the local averages for size, lot, and assessed value, meaning it represents a relatively robust property within its specific community context, even if city-wide metrics differ.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the sale price?
The home’s assessed value was $23,400, while it sold for $28,500. This difference is common, as assessed values for municipal tax purposes often lag behind current market sale prices, especially in evolving neighbourhoods.
2. What does the "below average" city-wide ranking mean?
While the home ranks highly within Daniel McIntyre, its lot size and year built rank below the city-wide average. This reflects the character of central, older neighbourhoods where lots are typically smaller and homes are historic compared to newer suburban developments.
3. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its status with the city and ensure any renovations have proper permits if considering rental income.
4. What is the significance of the detached garage?
A detached garage on a lot of this size is a valuable asset in an older neighbourhood, providing secure storage or workshop space. It also offers future flexibility that attached garages on character homes often do not.
5. How does the age of the home impact ownership?
Built in 1915, the home will have classic features but also requires diligent maintenance. Prospective buyers should prioritize a thorough inspection focusing on foundational integrity, updated electrical and plumbing systems, and roof condition to understand future upkeep costs.