1489 Bannatyne Avenue W – Summary
Key Characteristics & Profile
This is a 1946-built home with 826 square feet of living space on a 3,477-square-foot lot, located in the Weston neighbourhood of Winnipeg. The property’s assessed value sits at $227,000. Its appeal lies in the contrast between its modest physical footprint and its relative value within the immediate neighbourhood. While the house is smaller than average for both the street and the city, and its lot is average for Weston, the assessed value is notably above the neighbourhood average (ranking in the top 17%) and slightly above the street average. This suggests the property’s value is not driven by size, but likely by location, condition, or other intangible factors that may not be obvious from the numbers alone. It is not a standout on paper for space or land, but it holds its value better than many nearby homes. This property would suit a buyer focused on affordability and a practical, smaller footprint in a stable, older neighbourhood—someone less concerned with square footage or a large yard, and more interested in a home that has held value without commanding a premium. It may also appeal to investors or first-time buyers looking for a lower entry price point in a neighbourhood where values are above the local baseline.
FAQs
1. Why is the assessed value above the neighbourhood average when the living area and lot size are not?
Assessed value reflects more than just size. It can account for the home’s condition, recent renovations, location within the neighbourhood, and comparable sales. A well-maintained 1940s home or one with updates can carry a higher value than larger, older, or less maintained properties nearby.
2. How does the 1946 build year affect the property’s appeal?
Homes from the 1940s often have solid construction and mature lots, but may lack modern insulation, electrical, or plumbing. The benefit is that the home is older than the city average (1966), so character or original details may appeal to some buyers, but maintenance history should be reviewed carefully.
3. The living area is 826 sq ft—is that a challenge?
It is notably small. It ranks in the bottom 11% citywide. A buyer should be comfortable with compact rooms and limited expansion potential. However, smaller homes often come with lower utility costs and easier upkeep, which can offset the size.
4. What does “top 17% for assessed value in the neighbourhood” actually mean?
It means that out of 1,736 comparable homes in Weston, only about 300 have a higher assessed value. This property falls in the higher tier for value in the area, despite not having a large house or lot. This could signal a stronger investment relative to immediate neighbours.
5. Is the land area of 3,477 sqft usable?
It is smaller than the street average (3,898 sqft) but close to the neighbourhood average (3,269 sqft). The yard is typical for Weston but small by citywide standards. It is likely a functional backyard for a smaller home, but not expansive. Check for shape and layout rather than just total square footage.