Property Overview: 624 Bannerman Avenue
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home, built in 1914, presents a practical opportunity in Winnipeg's Inkster-Faraday neighbourhood. With 1,136 sqft of living space, its size is typical for the immediate area. The property includes a detached garage and an unrenovated basement, offering functional space and potential for future customization.
The primary appeal lies in its position as an affordable, no-frills entry point into the market. Its assessed value is modest, especially when viewed citywide, suggesting a lower property tax burden. The home suits first-time buyers or investors seeking a straightforward, lower-cost property. Its age and unrenovated state mean it’s ideally suited for a buyer comfortable with gradual updates or who values authenticity over modern finishes. A thoughtful perspective is the lot size: at just under 3,000 sqft, it is smaller than many in the city, which translates to less exterior maintenance—an often-overlooked advantage for those seeking a simpler footprint.
Section 2: Frequently Asked Questions
1. What is the true condition of the basement?
The listing specifies the basement is "not renovated." Buyers should anticipate a functional but unfinished space, likely requiring inspections for moisture, insulation, and foundational integrity common with homes of this era.
2. How do the property taxes for this home likely compare?
Given its assessed value is significantly below the Winnipeg average, the municipal property taxes should be proportionally lower, which is a key factor in ongoing affordability.
3. What does the sale history indicate?
The home sold previously in 2016 and 2019. The price ranges shown suggest a historically affordable property. Requesting the exact sold prices can provide clearer insight into its market trajectory.
4. Is the smaller lot size a disadvantage?
While the land area is below average for the city, it is not uncommon for the neighbourhood. This can be an advantage for those who prefer less yard work and lower landscaping costs.
5. Who is this home not suited for?
It is likely not a match for buyers seeking a move-in-ready modern home or those unwilling to manage the maintenance and potential updates that come with a 110-year-old house. The unrenovated basement also rules out those needing immediate finished living space.