Property Summary: 1383 Bannatyne Avenue W, Winnipeg
Key Characteristics & Buyer Profile
This is a 1945-built home with 880 square feet of living space on a notably large 4,786-square-foot lot. The property’s standout feature is its land: it ranks in the top 25% on its street and the top 10% within the Weston neighbourhood for lot size, which is rare for older infill areas. The house itself is modest in size (below citywide average) and has an assessed value of $162,000, which is well below both neighbourhood and citywide medians.
The appeal here is straightforward: you’re buying the yard more than the house. For someone comfortable with an older, smaller home who values outdoor space—gardening, a workshop, room for kids or pets—this lot offers flexibility that most comparable properties in Weston don’t. The home is liveable but likely needs updates, which keeps the entry price low. It would suit first-time buyers who are handy or have renovation plans, downsizers who prioritize outdoor room over interior square footage, or investors looking for a fixer-upper in an established neighbourhood with above-average land.
One less obvious angle: because the house is modest for the lot, there may be potential to add square footage later (subject to zoning), which could significantly increase equity. However, the assessed value reflects the current structure, not the land’s full upside—something to consider if you’ve got a longer timeline.
Five Possible FAQs
1. Why is the assessed value so low compared to the city average?
The home is smaller (880 sqft) than the typical Winnipeg comparable home (1,342 sqft average) and is from 1945, so its condition and features likely don’t command a premium. The citywide average assessment ($390k) is pulled up by newer, larger homes. Here, the value is in the land—but that’s not fully captured until the house is improved or redeveloped.
2. How does the lot size compare to typical homes in Weston?
Significantly larger. The neighbourhood average lot is 3,269 sqft; this one is 4,786 sqft—that’s nearly 50% bigger than the norm. It ranks in the top 10% of Weston for land area.
3. Is this a good investment for a renovation?
Possibly—if you focus on the land. Renovating a 1945 home of this size won’t dramatically raise its assessed value to citywide levels, but a well-done update could boost its street and neighbourhood ranking. The real upside comes from adding livable square footage or developing the lot further, if allowed.
4. How does this home compare to others on Bannatyne Avenue?
It’s smaller than the street average (1,150 sqft) and has a lower assessed value. But it lands a larger lot than most neighbours. If you care about yard space over house size, it stands out on this street. If you’re comparing strictly by interior square footage, it’s below average.
5. What should I check before buying a home this old?
Given the 1945 build, expect older electrical, plumbing, and possibly lead paint or asbestos in insulation or flooring. The foundation and roof condition matter a lot for a home of this age. A thorough inspection focused on structural and mechanical systems is wise—especially since the lot’s value won’t make up for major surprises inside.