Property Overview: 1113 Bannerman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1,080 sqft bungalow, built in 1956 on a 4,396 sqft lot in Mynarski, presents a solid, value-oriented opportunity. Its primary appeal lies in its strong assessed value of $322k, which ranks well above average for both its street (top 9%) and neighbourhood (top 24%). This suggests the property is perceived as a substantial asset relative to its immediate surroundings. While the living space is modest by city-wide standards, it is actually above average for the Mynarski area, indicating it offers good functional space for the locale.
The home would suit practical buyers looking for a sound investment in a mature neighbourhood. It’s ideal for a first-time homeowner who values lot size and perceived value over a modern, turn-key property, or for an investor attracted by the underlying asset strength. A thoughtful perspective is that its 1956 build date makes it newer than many homes on its street, potentially meaning fewer issues associated with very old infrastructure. The data indicates you’re buying a property that stands out in its own community for its value, even if it seems average when viewed against the entire city.
Section 2: Frequently Asked Questions
1. How does the assessed value compare, and what does it mean?
The $322,000 assessment is significantly higher than the street average ($243k) and neighbourhood average ($308k). This typically reflects a higher municipal valuation for taxation, which can be based on lot size, improvements, or recent sales. It suggests the property is considered a premium asset on its block.
2. Is the living space sufficient for a family?
At 1,080 sqft, the home is slightly smaller than the city average but is actually larger than the typical home in Mynarski. It likely offers five main rooms, which can suit a small family or couple, but may feel compact for those accustomed to larger, newer suburban layouts.
3. What should I consider about a house built in 1956?
While newer than many on its street, a 70-year-old home will likely have had some updates. Key systems like wiring, plumbing, and the roof should be carefully inspected. The era suggests potential for charming original features, but also the possibility of outdated materials like knob-and-tube wiring or galvanized plumbing.
4. How does the last sold price (2016) relate to today’s value?
The home sold for between $250k-$300k in mid-2016. The current assessed value of $322k shows appreciation, but market value is determined by current conditions. This history provides a benchmark for growth, but a professional appraisal or comparative market analysis is needed for today’s price.
5. What are the benefits of the lot size?
At just under 4,400 sqft, the lot is very typical for the area but smaller than the city-wide average. It provides a good-sized yard for a city home. Its value is more about its location within the neighbourhood than its sheer size, offering standard outdoor space for gardening, play, or entertaining.