Property Overview
This two-storey home on Banning Street, built in 1914, presents a classic character property in Winnipeg's Daniel McIntyre neighbourhood. With 1,040 square feet of living space and a full, unrenovated basement, it sits on a modest 2,470 sqft lot. Its assessed value is notably below the citywide average, reflecting its vintage and the neighbourhood context. The home last sold in December 2021 for $220,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its value proposition and potential. It is a home for a practical buyer, not a luxury seeker. Its assessed value is significantly lower than the city average, which can translate to correspondingly lower property taxes—a key, often overlooked financial benefit. The lot size, while smaller than many in the city, is actually quite typical for the central Daniel McIntyre area, offering manageable outdoor maintenance.
This home would suit a first-time buyer, an investor, or a hands-on owner comfortable with a project. The unrenovated basement and the home's age indicate it may require updates, but this also allows a new owner to customize without paying a premium for recently finished work. Its character and central location offer a sense of established community, appealing to those who value older neighbourhoods over newer subdivisions. A thoughtful perspective is that its "below average" metrics for the street and city aren't necessarily drawbacks; they represent an accessible entry point into the market with a structure that has proven its durability for over a century.
Frequently Asked Questions
1. What does the assessed value tell me about the property taxes?
A lower assessed value generally results in lower municipal property taxes compared to a similar-sized home with a higher assessment. This is an ongoing annual saving.
2. The basement is noted as "not renovated." What should I expect?
This typically means the basement is in a functional, utilitarian state. It likely has foundational finishes (concrete floors, exposed joists or basic walls) and is suited for laundry and storage, but would require investment to become a finished living space.
3. How does the lot size impact the property?
At 2,470 sqft, the lot is compact. This means less yard maintenance, but also limited space for expansions like large additions or detached garages. It's a standard size for many central Winnipeg neighbourhoods.
4. The home sold recently in 2021. Is that a concern?
Not inherently. It suggests a relatively recent market valuation. The reasons for a quick resale can vary widely, from investor strategies to personal circumstances, and should be explored during the buying process.
5. What are the implications of the home being built in 1914?
You are buying a character home with solid construction, but also one that will likely have older systems (like plumbing and wiring) and require diligent maintenance. Its above-average age for the immediate area indicates it's a well-established part of the streetscape.