Property Overview
889 Stewart Street is a renovated one-storey home in Winnipeg's Buchanan neighbourhood, built in 1969. It sits on a roughly 5,150 sqft lot with a detached garage. The home's key appeal lies in its balance of a recently updated interior with the value and potential offered by its generous lot size. While the living space is compact at 988 sqft, the renovated basement adds functional space. Its assessed value is positioned below average for the area, suggesting a potentially accessible entry point into the market.
Key Characteristics & Appeal
The primary draw of this property is its solid foundation as a renovated, move-in-ready home on a larger-than-average lot for its street. The renovation of the basement is a significant practical upgrade, effectively increasing the usable living area. The home's year built is notably newer than many others on Stewart Street, which can be appealing for maintenance considerations.
Its appeal is grounded in practicality and potential. It would suit first-time buyers looking for a manageable, updated home without a premium price tag, or investors seeking a property with a strong land-to-building ratio. The below-average living area means it's likely best for smaller households, but the lot size offers future possibilities for expansion or outdoor enjoyment that many similarly priced properties lack. It’s a home that offers immediate comfort with a clear asset—the land—that holds long-term value.
Frequently Asked Questions
1. Is the renovation recent, and what does it include?
The listing specifies a renovated basement, but the scope and date of the renovation are not detailed. A buyer should inquire directly about what specific work was completed, when it was done, and if permits were obtained.
2. How does the below-average assessed value affect the asking price?
The assessed value is a municipal tool for calculating property taxes, not a direct market valuation. However, its position below local averages indicates this property is not in the premium tier for the area, which often correlates with a more accessible sale price, as seen in its last sale.
3. What is the neighbourhood like?
Buchanan is a established Winnipeg neighbourhood. The property's metrics show it is generally around average for the area in terms of lot size and year built, suggesting it fits the typical fabric of the community.
4. What are the implications of the smaller living area?
With 988 sqft of living area, the home is cozy. Efficient use of space will be important. The renovated basement is crucial for adding functional room for storage, utilities, or additional living space to offset the smaller main floor footprint.
5. What potential does the lot offer?
At over 5,000 sqft, the lot is a standout feature. It provides ample private outdoor space, room for gardening, and potential for future additions like a deck, shed, or even a home expansion, subject to local zoning regulations.