861 Bannatyne Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1946-built home with 1,173 square feet of living space on a 4,671-square-foot lot. Its standout feature is the land: the lot is well above average for both the street and the West Alexander neighbourhood, ranking in the top 18% locally and top 28% on Bannatyne Avenue itself. The assessed value of $251,000 also sits above the neighbourhood average of $187,300, reflecting that the land and location carry weight relative to the structure. The living area is essentially average for the area—nothing remarkable, but not a drawback either. The year built puts it in line with the street (post-war infill) but older than much of the wider city.
The appeal here is less about a move-in-ready showpiece and more about solid fundamentals in an established neighbourhood. Buyers drawn to this property are likely those who prioritize lot size and location over a newer build. It would suit someone planning a renovation or addition, given the generous land and older structure, or a buyer who values being in West Alexander—a centrally located area with older character homes—without paying a premium for a fully updated interior. First-time buyers with some renovation appetite, or investors looking for a hold-and-improve play, would fit well.
Five Possible FAQs
1. How does this home compare to others on the street?
It sits above average in both lot size and assessed value, and average for living area and age. On a street of mostly similar post-war homes, this one offers more land than most.
2. Is the assessed value out of line with the area?
Not really. The assessed value is higher than the street and neighbourhood averages, but that likely reflects the larger lot rather than the house itself. Citywide it looks low, but that’s because Winnipeg’s averages include pricier suburban and newer homes.
3. What should a buyer look out for with a 1946 build?
Standard older-home considerations: electrical, plumbing, insulation, and foundation condition. The advantage is that the lot size gives room for additions or a detached garage—something many comparable properties lack.
4. Could this be a good rental property?
Possibly. West Alexander has a mix of older rentals and owner-occupied homes. The land and central location are strong draws, but the rental return would depend on the interior condition and whether upgrades are needed. The valuation suggests the property’s worth is more in the land than the building.
5. What’s the neighbourhood like in terms of resale potential?
West Alexander is a stable, older inner-city area with decent demand from buyers who want proximity to downtown and the Exchange District without the price tag of the most fashionable enclaves. Larger lots here tend to hold value better than smaller ones, so the land is a long-term asset.