Property Overview
993 Banning Street is a well-maintained one-and-a-half storey home in Winnipeg's Daniel McIntyre neighbourhood. Built in 1922, it offers 1,253 sqft of living space, a renovated basement, and a detached garage on a 3,258 sqft lot. Its assessed value of $26,200k places it well above average for both its immediate street and the broader neighbourhood, suggesting a property that has been updated or is in superior condition relative to many nearby homes. While its citywide rankings for size and value are more moderate, it stands out as a strong performer within its established, central community.
Key Characteristics & Appeal
This home’s primary appeal lies in its solid positioning within a desirable inner-city area. It is not the largest or newest home on the market, but the data indicates it is a notably well-valued property for Daniel McIntyre, often ranking in the top 10-30% of local comparables for assessed value. This suggests a combination of good upkeep, desirable features, or a premium lot location. The renovated basement adds modern livable space, a valuable asset in a character home.
It would particularly suit buyers looking for a established neighbourhood with character, who value a home that already shows above-average investment and care relative to its peers. It’s a practical choice for someone wanting the charm of an older home without being at the very starting point of renovations. The detached garage is a significant perk for storage or workshop space in this urban setting. First-time buyers seeking a move-in ready home in a central location, or investors looking for a stable property in a consistent neighbourhood, would find this listing compelling.
Frequently Asked Questions
1. What does the above-average assessed value for the area actually indicate?
A higher assessed value compared to neighbours often reflects improvements, additions, or superior overall condition recognized by the assessor. It can signal that the home has already seen significant updates, potentially offering the next owner a head start on maintenance and modernization costs.
2. Is the living space sufficient for a growing family?
At 1,253 sqft, the living area is very typical for the neighbourhood and era. The renovated basement effectively expands the usable space, making it functional for a small family. Buyers should consider the layout of the one-and-a-half storey design to ensure it meets their specific needs for bedrooms and common areas.
3. How does the age of the home (1922) impact ownership?
While the home is over a century old, its above-average ranking for year built on its street suggests it is actually newer than many surrounding properties. This can be a slight advantage, but prospective buyers should still prioritize a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation—common update points for homes of this vintage.
4. Why is the citywide ranking for value much lower than the neighbourhood ranking?
This is common for central, established neighbourhoods. The assessed value is very strong within the context of Daniel McIntyre, but when compared to all properties across Winnipeg—including newer, larger suburban homes on bigger lots—the absolute dollar value is naturally lower. This highlights the importance of comparing homes within their specific market area.
5. What are the benefits of a detached garage in this setting?
A detached garage in an older neighbourhood provides flexible space not just for vehicle parking, but also for storage, a workshop, or a hobby area without encroaching on the home's living square footage. It can also offer easier access and potential for future conversion projects, subject to local bylaws.