Property Overview: 804 Banning Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1912, presents a classic character property in the Daniel McIntyre neighbourhood. With 1,064 sqft of living space and a 2,979 sqft lot, its size is very typical for the immediate area, offering a manageable footprint. The home features a detached garage and an unrenovated basement, indicating potential for future customization.
The primary appeal lies in its position as a grounded, no-frills entry point into a mature inner-city community. Its assessed value is notably low, even for the neighbourhood, which can translate to lower property taxes—a significant, often overlooked, long-term savings. This isn't a showpiece; it's a practical canvas. It would suit a first-time buyer comfortable with a home that may require updates over time, or an investor looking for a straightforward rental property in a central location. The data suggests you're paying for location and lot rather than premium finishes, which is a specific and value-conscious approach to homeownership.
Frequently Asked Questions
1. What does the low assessed value mean for me?
A lower assessed value typically results in lower municipal property taxes compared to similar-sized homes in the area. This is a concrete annual saving, though it may also reflect the home's current condition and market valuation.
2. Is the unrenovated basement a concern?
It indicates the mechanical systems and foundation are in original or older condition. It's not inherently a problem, but a thorough inspection is crucial. This also represents the single largest area of potential future expansion or modernization.
3. How does the living space compare practically?
At 1,064 sqft, the living area is slightly below the neighbourhood average. This suggests efficient, compact rooms typical of the era. It's ample for a small household but may feel cozy for those needing extensive separate spaces.
4. What is the significance of the "one-and-three-quarter" storey design?
This common early-1900s style often features a main floor, a second floor with sloped ceilings under the roofline, and sometimes a small attic space. The second-floor rooms can be charming but may have limited headroom in places.
5. The home last sold in 2017. Should that matter?
It indicates the current owners have held the property for several years. While not a red flag, it's wise to inquire about any work done during their ownership, as systems and maintenance over a 7-year period are relevant to the home's current state.