Property Overview: 733 Stewart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a practical opportunity. Its key appeal lies in a combination of above-average living space and a renovated basement within a mature neighbourhood. With 1,204 sqft of living area, the home offers more interior space than most comparable properties on its street and in the broader Buchanan area. The inclusion of a detached garage and a generous 5,154 sqft lot adds functional value for vehicles, storage, or outdoor enjoyment.
The property suits two primary types of buyers. First, it’s a sensible fit for first-time homeowners or downsizers seeking a manageable single-level layout with modernized updates, notably in the basement. Second, it appeals to value-oriented investors or renovators, given its land size and the fact that its last sold price was below its current assessed value, suggesting potential equity. A thoughtful perspective is that while the home was built in 1961, its age is typical for the immediate street, meaning renovations likely align with the character of the area rather than standing out as over-improved.
Section 2: Frequently Asked Questions
1. How does the property’s value compare to its neighbours?
The home’s assessed value is around the average for Stewart Street and the Buchanan neighbourhood. Notably, its last recorded sale price was below these averages, which may indicate a past value opportunity or a factor to discuss with a local agent.
2. Is the living space efficient for a one-storey home?
Yes. The living area ranks in the top 12% on its street and top 22% in Buchanan, meaning it offers more interior square footage than most direct comparables, which is a key efficiency metric for a bungalow.
3. What does the "renovated basement" likely entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, permits, and whether it includes added bedrooms, a legal suite, or simply finished living space.
4. How does the lot size impact this property?
At over 5,000 sqft, the lot is above average for Stewart Street. This provides a tangible advantage for privacy, gardening, or expansion potential compared to tighter lots, but it’s not exceptionally large for the wider city.
5. The home is older; should I be concerned?
Built in 1961, the home is older than most in Buchanan but typical for its specific street. The renovated basement suggests some systems have been updated. A thorough inspection is always recommended to understand the condition of the roof, foundation, wiring, and plumbing common to homes of this era.