Property Overview
This 1962 one-storey home at 721 Stewart Street in Winnipeg's Buchanan neighbourhood presents a straightforward, low-maintenance living option. Its key appeal lies in its efficient use of space and its position as a solid, average-value property within its immediate area. The home sits on a 5,154 sqft lot, which is above average for Stewart Street itself, offering decent outdoor space relative to its closest neighbours. The living area is a practical 1,090 sqft, and the home features a renovated basement and a detached garage.
The property would suit first-time buyers or downsizers looking for an entry point into the Buchanan area without a premium price tag. Its assessed value and recent sale price are consistently around the average for the street and neighbourhood, suggesting a stable, predictable investment rather than a high-growth prospect. A thoughtful perspective is that while the home's metrics are mostly "around average" citywide, it outperforms many local peers on its own street for lot size and past sale price, indicating it may be a relatively stronger holding within its specific micro-market.
Frequently Asked Questions
1. What does "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A prospective buyer should inquire about the finishes, the presence of proper permits, and whether it includes added living space, bedrooms, or just updated utility areas.
2. How does the detached garage affect the property?
It provides valuable storage or workshop space but may require separate maintenance. In winter, accessing it will mean going outside, which is a consideration compared to an attached garage.
3. The assessed value seems low. Why is that?
The assessed value (just under $30k) is for municipal tax purposes only and is not an indicator of market value. The home's actual market price is better reflected by its 2021 sale price of $32.3k and current listing price.
4. Is the property a good investment?
The data suggests it's a stable, average property for the Buchanan area. It's not an outlier in terms of rapid appreciation but represents a typical home in the neighbourhood. Its appeal is more about practicality and location than speculative gain.
5. The home was built in 1962. What should I be aware of?
While the basement has been renovated, systems like plumbing, electrical, and the roof will be at an age where inspection is crucial. Its construction date is newer than many on its street but older than the Buchanan neighbourhood average, so updates may be needed.