Property Overview: 870 Banning Street, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated two-and-a-half storey home in Daniel McIntyre offers a compelling blend of historic charm and above-average space. Built in 1913, it sits on a larger-than-average lot for the area (3,274 sqft) and provides generous living space (1,836 sqft), placing it in the top tier of homes locally for size. The property includes a detached garage and an unrenovated basement, presenting a classic canvas.
Its primary appeal lies in its strong standing within the immediate neighbourhood. The home ranks in the elite top 5% for assessed value and living area on its own street, meaning it represents a premium property within a well-established community. This suggests a solid investment in a desirable micro-location. It would suit a buyer looking for character in a mature neighbourhood, who values space and lot size over a modern build, and who sees potential in a home with original features and an unfinished basement for future customization.
A thoughtful perspective: While its assessed value is elite locally, it is below the city-wide average, highlighting the affordability of the Daniel McIntyre area relative to Winnipeg as a whole. This creates an opportunity to own a top-tier home in a specific community without the city's premium price tag.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home was last sold in November 2022 for $270,000. Its current assessed value is $29,600. It is important to consult with a real estate professional to understand current market valuation, as assessed value for tax purposes often differs significantly from market value.
2. What does the "unrenovated basement" condition imply?
This indicates the basement is in original or functional condition but has not been modernized or finished as living space. It offers utility and storage potential but represents an opportunity for future renovation to add value and livable square footage.
3. The home is older—what should I consider?
Built in 1913, the home is typical for its historic neighbourhood. Buyers should prioritize a thorough inspection to understand the condition of major systems (roof, plumbing, electrical, foundation) common to houses of this era, and budget for potential updates or maintenance.
4. How significant is its "top 5%" ranking for size on the street?
This statistic means that among 369 comparable homes on Banning Street, only 19 have a larger living area. It strongly indicates this is one of the more spacious homes available in this specific location, a key differentiator.
5. The lot is larger than area averages, but below average city-wide. Why?
The lot is genuinely spacious for the inner-city Daniel McIntyre neighbourhood, where lots are typically smaller and more historic. The city-wide average is skewed higher by newer suburban developments with larger standard lot sizes, making this property's lot a strong asset within its community context.