Property Overview: 667 Stewart Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home on a generous lot in the Buchanan neighbourhood. Built in 1960, its primary appeal lies in its balance of space and value. The living area (1,104 sq ft) is notably above average for similar homes on its street, offering comfortable interior space. The true standout, however, is the land: at over 5,155 sq ft, the lot size ranks in the top 27% on Stewart Street, providing significant outdoor space that is increasingly rare. Key features include a renovated basement and a detached garage.
The home’s recent sale price significantly outperformed local and city-wide averages, suggesting strong buyer competition for this type of property. It represents a practical opportunity, particularly for a first-time buyer, downsizer, or investor seeking a lower-priced entry into the market with a valuable, sizable lot. The appeal is grounded in utility and potential—the renovated basement adds immediate living space, while the large lot offers long-term flexibility for gardening, expansion, or simply enjoying more privacy than newer, denser developments typically allow.
Frequently Asked Questions
Q: How does the lot size compare to other properties?
A: The 5,155 sq ft lot is a key feature. It's larger than most comparable lots on its street (top 27%) and provides ample outdoor space relative to the home's footprint.
Q: The home was built in 1960. What should I consider?
A: While the basement has been renovated, the core structure is from 1960. A thorough inspection is advisable to understand the condition of major aging components like the roof, plumbing, and electrical systems, which may need attention or updating.
Q: The assessed value is much lower than the recent sale price. Why?
A: Municipal assessed values for tax purposes often lag behind market values, especially in active markets. The sale price is determined by current buyer demand, which for this property was strong, as indicated by its sale price ranking in the top 3% on its street.
Q: Who would this property suit best?
A: It's well-suited for practical buyers who prioritize land over a large interior. This includes first-time buyers comfortable with a vintage home, downsizers seeking single-level living with a yard, or value-oriented investors. It's less suited for those seeking a modern, turn-key property without any project potential.
Q: What does the "renovated basement" entail?
A: The listing notes a renovated basement, but specifics on the scope, quality, permits, and finished square footage are not provided. This is a key detail to clarify with the seller or agent to understand the true living space and value added.