701 Bannerman Avenue

Property Overview: 701 Bannerman Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a compact, one-storey home built in 1945, offering 894 square feet of living space on a generous 4,641 sqft lot. Its key appeal lies in its balance of modest scale and practical updates, notably a renovated basement that adds functional space. The home presents a grounded, value-oriented opportunity within the Inkster-Faraday area.

While the living space is below the citywide average, the property stands out locally with a lot size that is above average for the neighbourhood, offering valuable outdoor space or future potential relative to nearby homes. Its assessed value is modest, positioning it as an accessible entry point into the market. This home would suit first-time buyers, downsizers, or practical investors looking for a straightforward, manageable property without the upkeep of a larger house or yard. Its renovated basement adds immediate utility, making it move-in ready for someone needing a home office, separate living area, or rental income suite (subject to verification).

A less obvious perspective is its relative modernity within its immediate context: built in 1945, it is notably newer than many neighbouring homes in Inkster-Faraday, which could suggest fewer issues associated with very early 20th-century construction. The data indicates you're paying primarily for the land and location, with the house itself representing a functional, updated space rather than a premium structure.

Section 2: Frequently Asked Questions

1. What is the exact recent sold price history?
The available public data shows a sale in July 2017 for an estimated range of $16.5k to $19.5k. For precise, verified sold prices, you must request the information directly via email from the listing source, as this is not publicly disclosed in detail.

2. How does this property compare in size to others?
At 894 sqft, the living area is below the Winnipeg city average. However, its 4,641 sqft lot is larger than most in the Inkster-Faraday neighbourhood, offering more outdoor space than typical local comparables.

3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope, finishes, or if it includes a separate entrance or kitchenette. This would require clarification with the seller or a viewing to understand its full functionality and compliance with local codes.

4. Is there parking or a garage?
The listing specifies there is no garage. Parking is likely limited to on-street or a driveway, which should be confirmed during a visit.

5. How is the property valued compared to the rest of the city?
With an assessed value of $21.5k, it falls within the bottom 10% of all Winnipeg properties, indicating it is a very low-cost option citywide. This reflects its smaller size and location, not necessarily the condition, which appears updated.