Property Overview: 955 Banning Street, Winnipeg
Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1913, is a classic character property in the Daniel McIntyre neighbourhood. With 1,098 sqft of living space and a full, unrenovated basement, it presents a practical footprint. The lot size of 2,469 sqft is modest for the city but typical for the area, offering manageable outdoor space. Its recent sale price and assessed value are notably below the Winnipeg citywide average, positioning it as an accessible entry point into the market.
The primary appeal lies in its value proposition and potential. It suits first-time homebuyers, practical investors, or hands-on owners who see opportunity in a solid, century-old structure. The home is not a move-in-ready showcase but a grounded canvas. Its charm is in what it represents: a chance to build equity through gradual updates, set in a well-established central neighbourhood with a strong sense of community. A less obvious perspective is its statistical positioning: while its size and age are average for its immediate area, its value metrics rank it highly for affordability citywide, highlighting it as a specific type of find—a structurally defined home in a mature neighbourhood without a premium price tag.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for Winnipeg homes of this era. It typically means the second floor has slightly less full-height ceiling space than the main floor, often with dormer windows, creating cozy, character-filled bedrooms.
2. The basement is listed as "not renovated." What should I expect?
Expect a functional, utilitarian space typical of homes from 1913. It likely has the original foundation, flooring, and mechanical systems (like the furnace and electrical). It provides storage and housing for utilities but will require updating for modern finished living space.
3. How does the assessed value compare to the recent sale price?
The assessed value is $19,300, while it sold for $24,500. This difference is not uncommon. The assessed value is for municipal tax purposes, while the sale price reflects the current market value determined by a buyer and seller.
4. What are the implications of the lot size being "below average" citywide?
While the lot is smaller than the Winnipeg average, it is aligned with lots in older, central neighbourhoods like Daniel McIntyre. This means lower maintenance and potentially lower property taxes than a larger lot, but less space for extensive additions or sprawling gardens.
5. The home is over 110 years old. What are the key considerations?
A home of this age has proven durability but requires diligent maintenance. Key priorities will be the condition of the roof, foundation, wiring, and plumbing. An inspection is essential to understand which original features are still solid and which systems need modernization for safety and efficiency.