Property Overview: 725 Bannerman Avenue
Section 1: Key Characteristics & Appeal
This one-storey home on a standard city lot presents a straightforward, low-maintenance living option. Its key characteristic is its modest scale, with a living area significantly smaller than most comparable homes in the neighborhood, city, and even on its own street. This is reflected in its well-below-average assessed value. The lot size is generous for the area, offering above-average outdoor space relative to nearby properties.
The appeal lies in its affordability and simplicity. It represents one of the most accessible entry points into homeownership in Winnipeg, with very low property taxes due to its assessment. It suits practical, budget-conscious buyers such as first-time purchasers seeking a foothold, investors looking for a basic rental property, or individuals wanting a minimal footprint without the upkeep of a larger house. A less obvious perspective is its potential for someone who values a larger yard over interior space, seeing the land itself as the primary asset for gardening, pets, or future expansion, rather than the existing structure.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based primarily on the home's very small size (600 sqft) and basic characteristics compared to the broader market, resulting in one of the lowest valuations in the city.
2. What does the "ranking" data mean for living area?
The rankings show this home's living area is in the bottom 2% compared to similar properties on Bannerman Avenue, bottom 4% in the Inkster-Faraday area, and bottom 1% city-wide, confirming its compact nature.
3. Is the land size typical for the neighborhood?
Yes. The lot is approximately 4,653 sqft, which is actually above average for the immediate Inkster-Faraday area, meaning you get more yard space than many neighboring properties.
4. How recent is the sold price information?
The last recorded sale was in April 2022, with a public price range between $15.5k and $18.5k. An exact sale price can be requested directly from the site.
5. What is the home's age and condition implication?
Built in 1945, it is newer than many area homes but is still 80+ years old. Buyers should prioritize a thorough inspection to understand the condition of its major systems, roof, and structure.