991 Banning Street

Property Overview: 991 Banning Street, Winnipeg

Key Characteristics & Appeal

This 1923 one-storey home in Daniel McIntyre presents a practical opportunity. At 924 sqft, the living space is compact and efficient, notably smaller than many area comparables. Its significant appeal lies in its financial positioning: with an assessed value of $250,000, it ranks well above average for both its immediate street and the broader neighbourhood, suggesting a solid valuation foundation. The lot size of 3,258 sqft is also generous for the central area. A key feature is the renovated basement, adding functional space. The home lacks a garage and pool, emphasizing its straightforward, low-maintenance profile.

This property would suit first-time buyers or practical downsizers seeking an entry into a central Winnipeg neighbourhood without a premium price tag for square footage. It’s for those who value a larger lot and a renovated basement over expansive above-ground living areas. A thoughtful perspective is that this home represents a "value-over-space" proposition—you’re investing more in the land and location than in the size of the house itself, which can be a strategic trade-off in an urban setting.

Frequently Asked Questions

1. Is the house particularly small?
Yes. At 924 sqft, the living area is below the average for similar homes on Banning Street, in Daniel McIntyre, and citywide. The layout and renovated basement are key to maximizing this efficient footprint.

2. Why is the assessed value relatively high for its size?
The $250,000 assessment ranks in the top 22% on its street and top 14% in the neighbourhood. This suggests factors like the renovated basement, lot size, and location contribute to a valuation that isn't solely based on square footage.

3. What does the lot size offer?
At 3,258 sqft, the lot is above average for Daniel McIntyre. This provides valuable outdoor space for gardening, entertaining, or future additions, which is a notable asset for a central neighbourhood.

4. How does the recent sale history inform the price?
The home sold for $240,000 in May 2021, which is close to its current $250,000 assessed value. This indicates a stable market perception of the property's worth over the past few years.

5. What are the obvious trade-offs with this property?
The main trade-offs are smaller interior living space and the lack of a garage, balanced by a larger-than-average lot, a renovated basement, and a strong assessed value for the area. It’s a property that prioritizes land and location over house size.