Property Overview: 972 Banning Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Daniel McIntyre presents a practical opportunity in a central Winnipeg neighbourhood. Built in 1945, it is notably newer than many surrounding homes, which may suggest fewer concerns related to very old infrastructure. The 1,074 sqft living space is modest but on par with area norms, and it features a renovated basement and a detached garage.
Its primary appeal lies in its strong value positioning within its immediate context. The assessed value ranks well above average for both Banning Street and the broader Daniel McIntyre area, indicating it is viewed favorably relative to its peers. This, combined with a land area that is larger than many neighbourhood lots, offers a solid foundation for the price.
This property would suit a first-time buyer or pragmatic investor looking for a manageable, character home in an established inner-city community. It’s for someone who values a central location over sheer size, and who appreciates a home that stands out positively in its local market metrics. The renovated basement adds functional living space, making it a viable option for those needing a home office or separate living area without undertaking a major project.
Section 2: Frequently Asked Questions
1. How does the 1945 build year compare to nearby homes?
It is significantly newer than the neighbourhood average, which is around 1918-1920. This can be an advantage, potentially meaning updates to core systems have already been addressed in the home's history.
2. The assessed value seems high for the area but low citywide. Why?
Assessed value is relative. This home ranks in the top 23% on its own street and top 14% in Daniel McIntyre, meaning it’s considered a higher-value property locally. The citywide comparison includes all property types and newer suburbs, making a direct number comparison less meaningful.
3. What does the "above average" land area mean for this lot?
At 3,259 sqft, the lot is larger than many in Daniel McIntyre. This provides more outdoor space than typical for the neighbourhood, which could be used for gardening, entertaining, or future expansion, subject to zoning.
4. Is the living area sufficient for a small family?
At 1,074 sqft, it is slightly below the neighbourhood average. It would be cozy for a family, but the renovated basement effectively increases usable space. Layout and functionality will be more important than square footage alone.
5. How stable has the home's value been?
It last sold in March 2019 for $24.10k. The current assessed value of $24.80k suggests stable valuation in the local market over that period, which can be a point of confidence regarding its market position.