Property Overview: 850 Bannerman Avenue, Winnipeg
Key Characteristics & Appeal
This 720 sqft bungalow, built in 1951, presents a practical opportunity in Winnipeg's Robertson neighborhood. Its primary appeal lies in a value proposition centered on land and location rather than interior space. The lot is a significant asset at 5,344 sqft, ranking well above average for both the street and the area, offering potential for gardening, expansion, or future redevelopment. The assessed value of $286k is positioned around the local average, suggesting a fair market entry point.
The home suits first-time buyers, downsizers, or investors seeking a manageable footprint with a solid, larger lot in an established community. Its below-average living area means it’s best for those with modest space needs or who view the property as a long-term hold with land value. A thoughtful perspective is that while the house itself is smaller than most, it is newer than many on its street, potentially implying fewer concerns with very old infrastructure. The appeal is grounded: you are purchasing a proportionally generous piece of land with a functional home on it, in a context where recent sale data shows steady value appreciation.
Frequently Asked Questions
1. How does the smaller living area impact value?
While the 720 sqft living area is below city and neighborhood averages, this is reflected in the assessed and likely market value. The trade-off is the larger-than-average lot size, which can be a key driver of value over time.
2. Is the assessed value in line with recent sales?
Based on the provided sale history, the home sold for between $250k-$300k in late 2021. The current $286k assessment appears consistent with that recent sale, indicating stable value in the local market.
3. What does the lot size actually offer?
At over 5,300 sqft, the lot is notably larger than typical properties on the street. This provides more outdoor space, better potential for additions like a garage or shed, and could be a factor if the area sees future redevelopment of older, smaller homes.
4. How does this property compare to nearby homes?
Similar homes on nearby streets (e.g., Atlantic, Cathedral, Machray Avenues) from the same era show comparable assessed values, typically with living areas in the 700-850 sqft range. This property’s value is competitive, with its standout feature being its larger parcel of land.
5. Where can I get verified sale price history?
The site notes that exact sold prices are not displayed publicly due to industry rules. You can request the exact transaction history by emailing the site directly for a manual lookup, which they provide without using your email for marketing.