Property Overview: 700 Isbister Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1961, situated on a generously sized 6,000 sqft lot in the Buchanan neighbourhood. Its key features include a renovated basement and a living area of 907 sqft, which is notably cozier than most area homes. The appeal here is fundamentally rooted in land value and potential. The lot size is solid for the area, offering ample outdoor space for gardening, expansion, or future development relative to the home's current footprint. With an assessed value that aligns with local averages, the property presents itself as an affordable entry point into the market.
This home would best suit a pragmatic buyer—perhaps a first-time homeowner, an investor, or a downsizer—who sees value in the underlying land and is comfortable with a modest living space. Its renovated basement adds functional square footage, making the overall package more viable. A thoughtful perspective is that its older construction date (1961) means it predates many area homes, potentially offering simpler, more durable original materials, but also likely requiring updates to major systems. It’s not a move-in-ready showcase, but a property with clear, foundational value for someone with a plan.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 907 sqft, the main floor living area is below average for the street, neighbourhood, and city. However, the renovated basement provides additional finished space, and the large lot offers room for an addition, subject to approvals.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the seller or agent to understand the home's true functional space.
3. How does the sale price compare to the assessed value?
The home last sold in October 2023 for $34,200, which is approximately $3,300 above its current assessed value of $30,900. This suggests the market recently valued it slightly above its official assessment.
4. What is the potential for this property?
The primary potential lies in the combination of a large, standard-sized lot with a smaller, older home. This scenario is often attractive for long-term value through landscaping, home improvements, or eventual redevelopment, making it a patient investment.
5. Are properties on this street typically older?
Yes. The data shows the home, built in 1961, is older than most on its street (ranking in the top 83%, where a higher percentage means older). The average build year for comparable homes on Isbister Street is 1971.