857 Bannatyne Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1911-built home with 2,184 square feet of living space on a 5,138-square-foot lot in Winnipeg’s West Alexander neighbourhood. The property stands out most clearly for its size: living area ranks in the top 4% on its street and in the neighbourhood, and the lot is similarly generous—top 17% on the street, top 11% in the area. That extra square footage is genuine, not just numbers on paper, and it’s paired with an assessed value that lags well behind the citywide average ($186K vs. $390K). The year built (1911) is older than most comparables, so buyers should expect character details, possibly original materials, and the maintenance that comes with age.
The appeal is in the value proposition: you’re getting a significantly larger home and yard than typical for the area, at a price point that hasn’t kept pace with newer builds. The land itself holds potential—whether for expansion, gardens, or simply space that’s rare in central Winnipeg. This property suits buyers who prioritize interior and exterior space over a turnkey finish, who are comfortable with the realities of an older home (upgrades, insulation, systems), and who see long-term land value in an established neighbourhood. It’s less suited for someone seeking a move-in-ready modern house or a low-maintenance property.
Frequently Asked Questions
1. Is the assessed value of $186K unusually low for this size of home?
Yes, relative to the citywide average for comparable homes ($390K). The assessed value is around average for the street and neighbourhood, but much lower than what you’d find for a similar-sized home in most newer subdivisions. That gap can mean lower property taxes, but it may also reflect the home’s age and condition—so factor that into renovation planning.
2. The house was built in 1911—what should I look for in a pre-war home?
Common areas to inspect include the foundation, electrical system (original knob-and-tube wiring is possible), plumbing, and insulation. Older homes in West Alexander often have good bones but may lack modern vapour barriers or updated mechanicals. A thorough inspection by someone familiar with century homes is strongly recommended.
3. How does the lot size compare to typical Winnipeg lots?
At 5,138 square feet, it’s above average for the street (3,898 sqft) and neighbourhood (3,591 sqft), but slightly smaller than the citywide average of 6,570 sqft. In this part of the city, that’s a notably large lot—useful for parking, a workshop, or yard space that’s uncommon in central areas.
4. What’s the neighbourhood like in terms of resale or future development?
West Alexander is an established area with a mix of older homes and some infill. Proximity to downtown, the Exchange District, and major routes keeps demand steady. Large lots on quiet streets like Bannatyne can attract buyers looking for redevelopment potential, but changes in zoning or land use would need to be verified with the city.
5. Why is the living area ranking much higher than the assessed value ranking?
Square footage and assessed value don’t always move together, especially in older homes. Age, condition, outdated finishes, or less desirable floor plans can keep the assessed value lower than what the size alone might suggest. This property is a strong example of that disconnect—which can be an opportunity if you’re willing to invest in updates.