Property Overview
This two-storey home on Bannerman Avenue in Winnipeg's St. John's neighbourhood is a classic character property with solid fundamentals. Built in 1912, it sits on a larger-than-average lot (3,287 sq ft) for the area and offers 1,184 sq ft of living space. Its assessed value of $190k ranks highly compared to most of Winnipeg. The home has a basement, but it is not renovated, and there is no garage or pool.
Key Characteristics & Appeal
The primary appeal of this property lies in its established location and the opportunity it presents. The lot size is a significant asset, offering more outdoor space and potential than many nearby properties. While the home itself is over a century old and may require updates, its above-average assessed value suggests a solid underlying worth for the street and city. This isn't a move-in-ready modern showhome; its charm is rooted in its history and potential. It would suit a buyer looking for a character home in a long-established neighbourhood, who is prepared to take on a project. This could be a first-time buyer seeking an entry point into the market with room to grow equity through renovations, or an investor attracted by the lot size and value fundamentals in a mature community. A less obvious perspective is that the highly-ranked assessed value, relative to the city, could indicate a degree of stability or desirability that isn't immediately apparent from the home's age alone.
Frequently Asked Questions
1. What does "basement, not renovated" typically mean?
This usually indicates the basement is in original or utilitarian condition. It is likely functional for storage and utilities but would require finishing to become formal living space.
2. How significant is the lot size?
At 3,287 sq ft, the lot is notably larger than many in the neighbourhood and city. This can provide more privacy, yard space, and future potential, such as for an addition or garden.
3. The home is 114 years old. What should I be prepared for?
Buyers should budget for potential updates to major aging components like plumbing, electrical, or the roof, and anticipate a character layout that may differ from newer homes. A thorough inspection is essential.
4. The assessed value is $190k, but what will it likely sell for?
Assessed value is for municipal tax purposes and is not a direct indicator of market value. The sale price will be determined by current market conditions, the home's specific state, and buyer demand.
5. There's no garage. What are the parking options?
The property likely relies on on-street parking, which is common for homes of this era in the area. It's important to check local street parking regulations for any restrictions.