Property Overview: 720 Bannerman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Bannerman Avenue in the Inkster-Faraday neighbourhood is defined by its balance of a modest living space and a generous lot. The house itself is compact at 746 sq ft, which is below average for the area, but it sits on a notably larger-than-average lot of over 5,300 sq ft for this part of the city. A key feature is the renovated basement, adding functional space. Built in 1944, the home is typical for the street's vintage, and it includes a detached garage.
The primary appeal lies in its efficient use of space and its land value. The renovated basement helps offset the smaller main floor area, making it a practical, low-maintenance footprint. The large lot is a significant asset, offering ample outdoor space for gardening, recreation, or future expansion—a rarity compared to many neighbouring properties. With an assessed value that is above average for Inkster-Faraday, it presents as a solid, value-oriented entry into the Winnipeg market.
This property would best suit first-time buyers or downsizers looking for an affordable, manageable home without sacrificing yard space. It’s also a practical option for an investor seeking a character home with a strong land component, offering potential for the long term. The appeal is grounded in practicality and the opportunity that the land provides, rather than in size or luxury finishes.
Section 2: Frequently Asked Questions
1. Is the house too small at under 750 sq ft?
While the living area is below average, the renovated basement effectively doubles the usable space, making the home more functional than the main floor square footage alone suggests. It's a layout that prioritizes efficient living.
2. What does the "above average" assessed value for the neighbourhood mean?
It indicates that, according to municipal assessment, this property holds more value relative to other homes in Inkster-Faraday. This can be attributed to factors like the renovated basement and the significantly larger lot size compared to area norms.
3. How does the large lot benefit me?
Beyond simple outdoor space, a larger lot in an established neighbourhood provides a tangible asset. It offers more privacy, flexibility for activities, and can be a key factor in the property's long-term value, even if the house itself is modest.
4. What is the neighbourhood like?
Inkster-Faraday is a mature, established community with homes primarily from the mid-20th century. The data shows properties here typically have smaller lots and lower assessed values city-wide, making this particular home's lot size and assessment stand out positively within the local context.
5. Where can I find the exact historical sale prices?
The exact sold prices are not publicly displayed in detail. The listing service provides an estimated range, but you can request the precise sale history by contacting them directly via the email link provided; they offer this data manually as a complimentary service.