Property Overview
This 1913 two-storey home on Bannerman Avenue is a classic Winnipeg character property with strong fundamentals. Its appeal lies in a combination of a desirable lot, a proven neighbourhood, and clear value potential. The home sits on a large, 2,937 sqft lot that ranks in the top 5% of the Luxton neighbourhood for size, offering ample outdoor space and future possibilities. While the 1,144 sqft living area is modest and the basement is unrenovated, the property’s assessed value ranks highly city-wide, suggesting solid underlying value. It last sold in 2020, and its current assessed value is notably lower than several comparable nearby properties, which may indicate an opportunity. This home would suit a buyer looking for a character home on a substantial lot, who is comfortable with a project—whether that’s updating the existing footprint or eventually considering expansion. It’s a practical choice for someone valuing land size and location over immediate move-in readiness.
Key Details & FAQs
- Year Built: 1913
- Living Area: 1,144 sqft
- Land Area: 2,937 sqft
- Basement: Yes (not renovated)
- Garage: Detached
- Last Sale: February 2020 ($120,000)
1. What is the neighbourhood like?
Luxton is a mature, established North End neighbourhood. The data shows this specific street ranks in the top 10% for lot size within Bannerman Avenue, indicating a consistent, desirable streetscape of larger properties.
2. Is the house in good condition?
The listing notes the basement is not renovated, which is a common consideration in century-old homes. Prospective buyers should budget for inspections to understand the condition of major systems like wiring, plumbing, and the foundation, typical for a home of this age.
3. Why is the assessed value different from the last sale price?
The home was last sold in 2020 for $120,000. Its current assessed value is $22,100 for taxation purposes, which is not an appraisal of market value. The sale price from 2020 is a more relevant recent market data point, and its ranking in the top 1% of street sales suggests it was a strong price at that time.
4. What could be done with such a large lot?
The lot size is a standout feature. It provides generous yard space and could allow for future additions like a larger deck, garden, or even a suite or garage expansion, subject to city zoning and bylaws. It offers more privacy and potential than many standard city lots.
5. How does it compare to nearby homes?
The provided comparisons show similar-sized homes on the same street with higher assessed values, and larger homes in Luxton with significantly higher assessments. This suggests there may be room for value growth at 28 Bannerman Avenue, especially if improvements are made.