Property Overview: 789 Stewart Street, Winnipeg
Key Characteristics & Appeal
This is a well-situated, single-storey home in Buchanan built in 1963, presenting a straightforward opportunity centered on its land and location. Its primary appeal lies in its above-average lot size for the immediate street, offering just over 5,150 sqft of land—a notable amount of private outdoor space in an established neighbourhood. The home itself is modest in size at 1,005 sqft of living area, but it features a renovated basement, adding functional space. A detached garage provides additional storage or workshop potential.
The property suits practical buyers looking for a solid foundation rather than immediate luxury. It’s ideal for a first-time homeowner comfortable with a home of vintage character, an investor seeking a property with land value in a stable area, or someone planning a future renovation or expansion who values the existing lot size. Its recent sale history shows a steady, reasonable value progression, suggesting a stable and un-hyped market position. The appeal here is subtle: it’s a property that offers more potential than prestige, with its renovated basement and generous lot providing flexible options for the right owner.
Frequently Asked Questions
1. How does the lot size compare to others?
The 5,154 sqft lot is notably larger than many on Stewart Street itself, ranking in the top 30% for the street. It is closer to the average when compared to the wider Buchanan neighbourhood and the city overall.
2. What is the home’s condition based on the details?
The listing specifically notes a renovated basement, indicating this area has been updated. As a home from 1963, buyers should anticipate that main floor systems and components may reflect its age and budget accordingly for potential updates.
3. Is the assessed value a good indicator of the likely sale price?
The current assessed value is $31,100. The home last sold in July 2021 for $34,500. This suggests the market value may trend above the assessment, but a professional appraisal and market evaluation are essential for determining current worth.
4. Who might this property not suit?
It may not suit buyers seeking a large, modern living space immediately, as the above-ground square footage is below average. Those wanting a move-in-ready home with no projects should verify the extent of the renovations and the condition of the original structure.
5. What does the sale history tell us?
The property sold for $28,600 in 2016 and $34,500 in 2021. This indicates a pattern of gradual, moderate appreciation over a five-year period, consistent with a stable, established area rather than a rapidly inflating market.