Property Overview: 805 Stewart Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a solid opportunity centered on its land and location. Built in 1961, the 1,014 sqft house sits on a generous 5,154 sqft lot that ranks in the top 30% for size on its street. A key feature is the renovated basement, adding functional living space, and the property includes a detached garage.
The primary appeal lies in its strong value proposition within the immediate area. The home's assessed value of $350k ranks significantly above average for both Stewart Street and the broader Buchanan neighbourhood, suggesting it is viewed as a substantial asset relative to its peers. This is reinforced by its most recent sale price, which was among the highest on the street. The property suits practical buyers looking for a home with a large yard in an established neighbourhood, or those who see potential in the solid lot size and the already-completed basement renovation. It’s a grounded choice for someone prioritizing space and stability over a newer build or a larger interior footprint.
Section 2: Frequently Asked Questions
1. How does the lot size compare to others?
The lot is 5,154 sqft, which is larger than most on Stewart Street itself (top 30%), and about average for the Buchanan neighbourhood and citywide.
2. The house was built in 1961. What should I consider?
While the basement has been renovated, a home of this age will likely have original or aging core components, such as the roof, windows, and major systems. A thorough inspection is advised to understand the condition and any upcoming maintenance.
3. Why is the assessed value so high compared to nearby homes?
The $350k assessment ranks well above average for the street and neighbourhood. This typically reflects factors like the renovated basement, the desirable lot size, and overall property condition as evaluated for tax purposes.
4. The recent sale price seems high compared to the 2019 sale. What does this indicate?
The property sold for $44.1k in 2024, which is in the top 2% of sales on its street. This sharp increase from its 2019 sale price of $26.5k likely reflects the completed basement renovation and strong market conditions, demonstrating significant added value in a short period.
5. Who would this property not suit?
Buyers seeking a modern, open-concept layout or very large interior living space may find the 1,014 sqft main floor limiting, as it's below the citywide average. Those preferring a low-maintenance property with a newer build and attached garage may also want to consider other options.