Property Overview: 886 Stewart Street, Winnipeg
Key Characteristics & Appeal
This well-situated one-storey home in Buchanan presents a practical opportunity. Built in 1969, it is notably newer than many on its street, suggesting potentially fewer immediate concerns related to age. The 1,124 sqft living area is comfortably above average for both the immediate area and the broader Buchanan neighbourhood. A key feature is the renovated basement, which adds functional living space. The property sits on a standard 5,148 sqft lot with a detached garage.
Its primary appeal lies in its solid, above-average fundamentals for the local context. It’s a home that outperforms many direct neighbours in key metrics like size and year built, yet remains assessed at a value consistent with the area. This combination suits buyers looking for a move-in ready, single-level layout in an established neighbourhood without a premium price tag. It would particularly fit first-time homeowners, downsizers seeking a manageable property, or practical investors looking for a stable rental asset with modernized touches below ground.
A less obvious perspective is the value of the "renovated basement" in this climate; it provides crucial additional living space year-round, a significant asset compared to homes where the lower level is unfinished or dated. Additionally, its consistent assessment value, despite sales history below that figure, may indicate room for equity growth as updates are recognized.
Frequently Asked Questions
1. How does this home compare to others nearby?
The data shows this home is stronger than many direct neighbours. It was built later than most on Stewart Street (top 12%) and offers more living space than the average home in both the immediate area and Buchanan neighbourhood.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, layout, and permits should be verified with the selling agent. It signifies usable, finished space, which is a valuable asset.
3. Why is the assessed value higher than past sale prices?
The current assessed value is $32.30k. Past sales in 2020 and 2016 were lower, which is common. The assessment reflects the city’s current valuation for tax purposes, which can be influenced by market trends, the renovated basement, and comparable area sales.
4. Is the detached garage a standard size?
The listing notes a detached garage but does not specify dimensions. This should be confirmed, as size and condition can vary significantly in homes of this era.
5. What is the neighbourhood like for families or investors?
Buchanan is an established, mature neighbourhood. The property’s steady assessment and average lot size are indicative of stability. Its single-storey layout and renovated basement could appeal to a range of tenants or a small family, but researching local schools and amenities directly is recommended.