Property Summary: 787 Banning Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in Daniel McIntyre presents a distinct value proposition centered on its land and location. At 984 sqft, the living space is modest and below area averages, but it sits on a notably large lot of 3,809 sqft, ranking in the top 2% on its street. This significant outdoor space is the property's standout feature. The home itself is older (built 1928) but has a renovated basement and a detached garage. Its assessed value is strong for the immediate area, suggesting it is viewed favorably relative to its neighbors.
The primary appeal lies in its potential. The combination of a large lot in an established neighborhood with a home of manageable size is ideal for buyers with a vision. It perfectly suits a hands-on buyer looking for a long-term project—someone who values the possibility of expansion, garden space, or future redevelopment more than move-in-ready perfection. It’s also a practical entry point into the market for those who prioritize land size and location over square footage, offering room to grow into the property over time.
Section 2: Frequently Asked Questions
1. Is the house in need of major updates?
Given its age (1928), buyers should budget for updates to major systems like plumbing, electrical, or the roof. The interior likely requires modernization, though the basement has been renovated.
2. What makes the assessed value higher than neighboring homes?
The above-average assessment for the street and neighborhood is likely driven by the combination of the large lot size, the renovated basement, and the detached garage, adding tangible value compared to nearby properties.
3. How can the large lot be utilized?
The lot is the property's biggest asset. Uses could include creating extensive private green space, adding a substantial deck or patio, building a workshop or shed, or, subject to zoning, future expansion of the home itself.
4. Is the living area too small for a family?
At under 1,000 sqft, the main floor living space is compact. It may suit a small family, a couple, or an individual. The renovated basement provides additional flexible space to help offset the smaller main floor footprint.
5. What is the parking situation?
The property includes a detached garage, providing secure parking and storage. The large lot also likely allows for additional off-street parking.