655 Stewart Street

Property Overview: 655 Stewart Street, Winnipeg

Key Characteristics & Appeal

This is a well-situated, single-storey home in the Buchanan neighbourhood, built in 1963. Its primary appeal lies in a combination of a generous, above-average lot and a recently renovated basement, offering solid value and potential. The 5,156 sqft lot is notably larger than most on Stewart Street (ranking in the top 23%), providing excellent outdoor space for a mature neighbourhood. While the 1,005 sqft living area is modest, the renovated basement adds functional space. The home’s assessed value of $350k sits well above average for both the immediate street and the broader Buchanan area, suggesting it is viewed as a premium property within its local context.

This property would suit first-time buyers or downsizers looking for a manageable single-level layout with a move-in-ready basement and a sizable yard. It’s also a practical choice for value-conscious buyers who prioritize land size—a feature that’s harder to change than interior finishes—in an established area. A less obvious angle is its appeal to those interested in neighbourhood stability; the home’s year-built is typical for the street, indicating a settled streetscape with consistent character.

Frequently Asked Questions

1. How does the lot size compare practically?
The lot is over 5,100 sqft, which is significantly larger than many neighbouring properties on Stewart Street. This translates to more private outdoor space for gardening, entertaining, or future additions like a shed or deck.

2. What does "renovated basement" typically mean here?
While specific finishes aren’t detailed, a renovated basement in a home of this era usually indicates updated living space, possibly including a rec room, additional bedroom, or modernized laundry area. It’s a key source of added functional space beyond the main floor.

3. Is the assessed value a reliable indicator of the selling price?
The assessed value ($350k) is for municipal tax purposes and is often lower than market value. However, its ranking—well above average for the street and neighbourhood—signals that the property is considered a higher-value home in its immediate area, which can be a positive indicator.

4. Who might find the living area too small?
The living area (just over 1,000 sqft on the main floor) is below average citywide. Growing families needing multiple bedrooms or dedicated workspaces on one level might find it compact. The basement renovation helps offset this by adding usable square footage.

5. What is the significance of the sales history?
The home sold for $360k in May 2021. This recent sale provides a concrete market benchmark, showing strong value retention and giving buyers a clear reference point for current pricing in a changing market.