Property Overview: 1074 Bannerman Avenue, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home at 1074 Bannerman Avenue in the Mynarski neighbourhood presents a compelling mix of space, value, and established character. Built in 1959, it is notably newer than many homes on its street and in the immediate area, which may suggest updated infrastructure or less immediate need for major retrofits compared to older peers. With 1,114 sqft of living space, the home offers above-average roominess for Mynarski, while its nearly 5,000 sqft lot provides generous outdoor space for the area.
The property’s primary appeal lies in its strong value positioning within its local context. Its assessed value of $359k places it in the elite top 5% for both its street and neighbourhood, indicating it is considered a higher-value asset compared to nearby homes. This suggests potential for solid equity standing. However, its value is around the city-wide average, presenting it as a more substantial property within a community that may offer relative affordability. Recent sale history shows a significant increase in value between late 2022 and early 2023.
This property would suit a practical buyer looking for a well-sized home with a large yard in an established neighbourhood. It’s ideal for someone who values space and a strong lot size over a brand-new build, and who appreciates a home that stands out in value within its immediate community. It could also appeal to an investor or homeowner interested in the potential stability of an asset that performs well against its direct comparables.
Frequently Asked Questions
1. Why is the assessed value so high compared to other homes on the street?
The assessment places this home in the top 4% on Bannerman Avenue. This premium likely reflects a combination of its larger lot size, its more recent year of build (1959 vs. a street average of 1936), its above-average living area for the area, and potentially improvements or condition factors not detailed in the raw data.
2. What does the sale history tell us about the property's market?
The home sold twice within a short period: in October 2022 for an estimated $250k-$300k and again in January 2023 for $350k-$400k. This sharp increase may indicate a rapid appreciation period, a significant renovation, or a market adjustment. It underscores the importance of verifying the exact sale prices and understanding what changed between those dates.
3. Is the living space adequate for a growing family?
At 1,114 sqft, the living area is above average for the Mynarski area. This suggests it is reasonably spacious for the neighbourhood, though it is slightly below the city-wide average. The generous lot size of 4,946 sqft is a significant bonus, offering ample room for outdoor play, gardening, or future expansion.
4. How does the age of the home (1959) affect maintenance?
While newer than most homes on its street, a 67-year-old home will still require diligent maintenance. The positive is that major systems like plumbing or electrical may have been updated more recently than in homes built in the 1930s. A thorough inspection is recommended to understand the condition of the roof, foundation, wiring, and plumbing.
5. How can I get the exact sold prices instead of the ranges shown?
The site provides sold price ranges publicly. To obtain the exact historical sale figures, you must request them directly via email. The provider performs a manual lookup and sends the information, as they do not have access to or display MLS sales records due to industry rules.