Property Overview: 724 Bannerman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, offering a straightforward and affordable entry point into Winnipeg’s Inkster-Faraday neighbourhood. With 678 square feet of living space, a detached garage, and an unfinished basement, the house presents itself as a functional blank canvas. Its key appeal lies in its low financial barriers, evidenced by a very low assessed value that places it in the bottom tier compared to most of the city. The lot, while smaller than area averages, provides outdoor space typical of older core neighbourhoods.
This property would primarily suit a specific type of buyer: those seeking a minimal-cost foothold in the market, such as an extremely budget-conscious first-time buyer willing to live modestly and renovate over time, or an investor looking for a basic rental property. Its value is rooted in necessity and potential, not in immediate comfort or finish. A less obvious perspective is that a home of this size and vintage, while requiring updates, can promote a simpler, less cluttered lifestyle. Its established location may also offer a sense of community often missing in newer, more transient areas.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home’s smaller size, older age, and likely the need for modernization. It is consistent with being a more basic property in its immediate area, as shown by comparisons to similar homes on the same street.
2. What does "below average" for living area mean in practical terms?
With 678 sqft, the living space is significantly smaller than the average Winnipeg home. This typically means a compact layout with fewer or smaller rooms, suited for one or two occupants.
3. Is the basement usable?
The listing specifies the basement exists but is "not renovated." It is unfinished, meaning it has raw space that could be developed in the future but is not currently finished living area.
4. How reliable is the sold price history shown?
The listed sale price from 2017 is a range based on public data. The site notes that obtaining the exact price requires a manual request, as some records may be incomplete.
5. What are the main considerations for a buyer looking at this home?
The primary considerations are the need for potential updates and renovations, the suitability of the small living space for your needs, and understanding that you are purchasing a property that ranks below area averages in size, value, and modernity for its price point.