Property Overview: 858 Bannerman Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a distinct value proposition centered on its lot and location rather than its size. Built in 1951, the 858 sqft house is notably compact, ranking below average in living space for its street, neighborhood, and the city. However, its true standout feature is the 5,345 sqft lot, which is significantly larger than most in the immediate area, offering above-average outdoor space for the Robertson neighborhood.
The appeal lies in this balance. The assessed value of $298k is above average for Bannerman Avenue, suggesting the property is already valued for its desirable lot and solid construction era. It last sold for an estimated $300k-$350k in late 2023. This profile suits practical, value-conscious buyers—perhaps first-time homeowners, downsizers, or investors—who prioritize land potential and a stable neighborhood over a large existing footprint. It’s a property where future value may be found in the possibility of expansion, renovation, or simply enjoying a more generous yard than the neighbors, all while being in a well-established part of Winnipeg.
Section 2: Frequently Asked Questions
1. Is the house too small?
At 858 sqft, it is certainly compact. The data shows it's smaller than 75-80% of similar homes on the street and in Robertson. It would require efficient use of space or suit those with simpler living needs.
2. Why is the assessed value above average for the street if the house is smaller?
The higher assessment likely reflects the valuable, larger-than-average lot size and the property's overall condition and location. In established neighborhoods, land value often becomes a primary driver.
3. How does the lot size compare to a typical new build?
While above average for its area, the lot is around average city-wide. Many newer suburban developments have smaller lots, but some older city neighborhoods can have larger. It's a substantial lot for its specific location.
4. What does the sale history indicate?
The 2023 sale in the $300k-$350k range, close to the current assessed value, suggests a stable, recent market valuation without extreme fluctuation.
5. Are there similar properties nearby for comparison?
Yes. The listing references several nearby homes on Bannerman and Cathedral Avenues from the same era (1947-1952), with similar or slightly larger square footages and assessed values ranging from $258k to $290k, providing a clear context for this property's market position.