503 Bannatyne Avenue — Property Summary

Key Characteristics & Buyer Profile

This is a 1,841-square-foot home built in 1896, located on Bannatyne Avenue in Winnipeg’s West Alexander neighbourhood. The property sits on a 3,005-square-foot lot.

Where the house stands out is its living space. It’s well above average for its street, neighbourhood, and the city as a whole—ranking in the top 12–16% depending on the comparison group. For someone looking for generous interior square footage in an older neighbourhood, this is a significant advantage.

The assessed value tells a different story. At $206,000, the property is around average for the street and slightly above average for the neighbourhood, but well below the citywide average of $390,100. This suggests the home may be priced more for its location and condition than for its size. The year built (1896) places it among the older homes in every comparison group—top 96% oldest on the street, top 100% citywide. The land area is slightly below average both locally and citywide, which is not unusual for a denser urban street.

The appeal here is straightforward: you get a lot of interior room for a relatively modest assessed value, in an area with a mix of older stock. It would suit buyers who prioritize square footage and a central location over a newer build or a large yard. It may also appeal to someone interested in a heritage-era home with character, provided they are prepared for the realities of an 1896 structure—maintenance, updating, and possibly less efficient systems. This is not a turnkey modern house; it’s a home with bones that likely needs attention.

Frequently Asked Questions

1. How does the assessed value compare to similar homes?
On this street and in West Alexander, the assessed value is near average. Citywide, it’s well below the norm—partly because of the older construction and smaller lot, and partly because the area itself has more modest valuations than newer suburban developments.

2. Is the land area a concern?
At 3,005 square feet, the lot is smaller than the street average (3,898 sqft) and notably below the citywide average (6,570 sqft). For an urban infill street, this is not unusual, but it does limit options for large additions, garages, or outdoor space. Buyers wanting a big yard should look elsewhere.

3. What should I know about a house built in 1896?
Older homes often have solid framing and unique details, but they also come with older electrical, plumbing, and insulation. It’s wise to budget for upgrades and have a thorough inspection focused on the foundation, roof, and mechanical systems. The age ranking (top 100% oldest citywide) means this is one of the older homes still standing in Winnipeg.

4. Why is the living area so much larger than the average?
Homes built in the late 1800s on this street were often designed with generous room sizes and high ceilings. The 1,841 sqft exceeds the street average by about 60% and is well above neighbourhood and city norms. This suggests the home has retained its original footprint or been expanded at some point.

5. Who would this property not be a good fit for?
It’s unlikely to suit buyers seeking a modern, low-maintenance home, a large lot for kids or gardening, or a property with a high resale value relative to the city. It also may not work for someone who needs a quick move-in without renovations or updates.