Property Overview
This 1950-built, one-storey home on Bannatyne Avenue W in Brooklands presents a specific and straightforward opportunity. Its key appeal lies in its land—a 3,860 sqft lot that is above the city-wide average—paired with a very modest 688 sqft living area and a correspondingly low assessed value. This creates a profile suited for a buyer looking for a land-value play or a manageable, entry-level footprint. The home is notably smaller and valued lower than most in its immediate area and across Winnipeg.
The property would suit a practical, value-oriented buyer such as a first-time homeowner willing to live modestly while building equity, or an investor looking for a land asset with an existing structure. It’s less suited for those seeking move-in-ready space or conventional family-sized rooms. A thoughtful perspective is that its below-average metrics across the board signal a clear value proposition with minimal premium for condition or finishes, making it a potential canvas for expansion or long-term hold in a neighbourhood where the land itself is the primary appreciating asset.
Frequently Asked Questions
1. Is this a teardown opportunity?
While the living area is very small and the home is older, it is a functioning house. Whether it's a teardown depends on the buyer's goals, the building's condition, and local renovation/rebuild regulations. Its value is heavily weighted toward the land.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific characteristics: a very small house (688 sqft) on a medium-sized lot in this particular neighbourhood. It is assessed in line with similar, modest properties rather than the broader Winnipeg market, which includes many larger, newer homes.
3. How does the lot size compare to others?
The 3,860 sqft lot is larger than most across Winnipeg (ranking in the top 24% city-wide) but is fairly typical for the Brooklands neighbourhood and Bannatyne Avenue W street.
4. What does the sale history indicate?
It last sold in November 2016 for $11,300, which is consistent with its long-standing status as a very modestly valued property. This history suggests it has been maintained as an affordable housing option.
5. Are the property taxes likely to be low?
Yes, property taxes are typically based on the assessed value. With an assessed value significantly below the city average, the annual property tax bill should be comparatively low.