Property Overview: 440 Bannerman Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, century-old home (built 1911) on a standard city lot in St. John’s. Its defining characteristic is its compact size, with a living area of 500 sqft that ranks it among the smallest homes in Winnipeg. The assessed value of $108k is significantly below averages for the street, neighborhood, and city, positioning it as one of the most accessible entry points into homeownership in the market.
The primary appeal lies in its affordability and potential. It suits a very specific buyer: a minimalist, a first-time buyer with a tight budget seeking a foothold in the city, or an investor looking for a straightforward rental property. Its value is not in its current stature but in the opportunity it represents—a chance to own a detached home with land for a fraction of the typical cost. A thoughtful perspective is that its low footprint can mean very low utility and maintenance costs relative to larger homes. For the right person, it’s a practical canvas rather than a finished product.
Frequently Asked Questions
1. Why is the living area so much smaller than nearby homes?
At 500 sqft, this is a notably compact property. Homes of this era were often built with more modest proportions, and this one may not have had the expansions or additions seen in many neighboring houses.
2. Is the low assessed value a cause for concern?
Not necessarily. It primarily reflects the home’s small size and likely basic condition compared to others. It results in lower property taxes, which is a financial advantage for the owner.
3. What can you tell me about past sale prices?
No sales history is displayed automatically for this listing. To obtain verified, exact past sale figures, you must request a manual lookup from the site provider via email, as they do not publish MLS sales records directly.
4. What are the realistic costs to upgrade or expand?
Given the home’s age (1911), any significant renovation or expansion would require a thorough inspection for foundational and structural considerations. Budgets must account for potential updates to wiring, plumbing, and insulation to meet modern standards.
5. Who are the most likely neighbors or what is the community like?
The immediate vicinity consists of similar single-family homes, many larger and newer. The nearby listings suggest a stable, established residential area. The presence of several homes from the same early-1900s period indicates a historic, core neighborhood streetscape.