863 Bannatyne Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,824 sqft single-family home on a 5,137 sqft lot, built in 1907 and currently assessed at $252,000. What stands out most is the living space: it’s well above average for its street, neighbourhood (West Alexander), and citywide—ranking in the top 13–16% across all three levels. The land is also generous, especially relative to the immediate street and neighbourhood, where lots tend to be several hundred square feet smaller.
The assessed value tells a more nuanced story. On the street and in West Alexander, the home is above average (top 25% and top 14%, respectively). But citywide, it sits in the bottom 18% of assessed values, reflecting both the older housing stock in this part of Winnipeg and a lower cost-per-square-foot compared to newer or more centrally located areas. The year built—1907—is older than almost everything on the street (top 81% older) and the city at large, but it’s actually around average for West Alexander, where many homes date from the 1920s.
This property would suit buyers who want more interior square footage and a larger lot than typical in this pocket of the city, without paying a premium for a newer build. It’s a good match for someone comfortable with an older home’s character and maintenance requirements, or for an investor looking at a neighbourhood where assessed values are still relatively modest. The combination of above-average living area and below-average citywide valuation suggests potential value—but only if the home’s condition justifies the space.
Five Possible FAQs
1. How does this home’s assessed value compare to others in the area?
It's above average for Bannatyne Avenue and West Alexander, but well below the citywide median of $390,100. That gap is partly because this neighbourhood has older, smaller-average-value homes than newer suburbs or higher-demand central districts.
2. Is a 1907 build a red flag?
Not necessarily, but it does mean older systems (plumbing, electrical, foundation) should be thoroughly inspected. That said, many homes in West Alexander are from the same era, so local contractors and trades will be familiar with the construction style. The key is condition, not age alone.
3. Why is the land area "around average" citywide but "above average" locally?
Citywide averages include newer subdivisions with much larger lots (sometimes over 6,000 sqft), so a 5,137 sqft lot ends up mid-pack. But on Bannatyne and in West Alexander, where lots are typically around 3,600–3,900 sqft, this is notably spacious.
4. How reliable are these rankings for making an offer?
They’re a useful starting point, not a final valuation. The living area and land rankings show you’re getting more space than most nearby homes, while the assessed value ranking suggests the city hasn’t reappraised it as high as some neighbours. A professional appraisal and recent comparable sales are still the best guide.
5. What type of renovation would add the most value here?
Given the older year built, modernizing core systems (heating, electrical, plumbing) often yields better return than cosmetic upgrades—especially if the home’s interior is dated. The generous lot also opens up potential for a rear addition or detached studio, if zoning permits.