Property Overview
This 1953-built, one-storey home on Bannatyne Avenue W in Brooklands presents a straightforward, value-oriented opportunity. Its key appeal lies in its proportionally large lot—at 3,426 sqft, it's notably above the city-wide average for lot size—paired with a modest 658 sqft living area and a recent sale price well below the Winnipeg average. This creates a specific proposition: you are primarily investing in the land within a mature neighbourhood. The home itself, with its detached garage and no basement, is a functional starter home or blank canvas.
The property would suit practical, budget-conscious buyers such as first-time homeowners seeking an entry point into the market, or investors looking for a land-value play with existing rental income potential. It's less suited for those seeking immediate move-in condition or spacious interiors without a renovation plan. A thoughtful perspective is that its older construction date (1953) is actually an advantage on its street, ranking newer than many neighbours, suggesting the structure may have more longevity than others in the immediate area. However, the very compact living space requires a minimalist lifestyle or a vision for expansion.
Frequently Asked Questions
1. Is this a teardown or a live-in opportunity?
It can be either. The assessed value is very low relative to the sale price, indicating the market price is heavily weighted toward the land value. It's liveable as a basic, compact home, but its long-term value will likely come from the lot's potential.
2. How does the lot size compare to others?
The lot is a key feature. At 3,426 sqft, it's larger than most city lots (ranking in the top 18% city-wide) and is above average for the Brooklands neighbourhood. This is a significant asset for future expansion, gardening, or outdoor space.
3. What does the low assessed value mean?
The $15,500 assessed value is for municipal tax purposes and reflects a historical valuation, not market value. Its extremely low ranking city-wide (top 97%) signals that this is a very modest structure on the books, which can mean relatively lower property taxes—a small but ongoing financial benefit.
4. There's no basement. What are the implications?
This means all mechanical systems (furnace, water heater), storage, and living space are on the single floor. It simplifies layout and may be preferable for accessibility, but it limits storage and utility space. Ensuring the crawl space or slab foundation is in good condition is essential.
5. The home sold recently. Why is it back on the market?
The provided data shows a sale in September 2024. Without specific disclosure, this could be due to many rapid resale factors such as an investor's flip, a change in the buyer's circumstances, or a wholesale assignment sale. It's important to inquire about the nature of that recent transaction and any work done since.