869 Bannatyne Avenue

869 Bannatyne Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,596-square-foot home on a generous 5,137-square-foot lot, built in 1907. Its standout feature is size: the living area ranks in the top 19% on its street and top 26% citywide, while the land area ranks in the top 18% on the street and top 12% in the neighbourhood. In West Alexander, a lot this size is noticeably above average—most comparable properties sit on around 3,591 square feet.

The assessed value of $212,000 sits close to the street average but well below the citywide average of $390,100. That gap isn’t unusual for an older home in this area, but it does suggest the property is priced more for its land and square footage than for a modernized interior or premium finishes. Buyers should expect a home that reflects its 1907 origins—likely needing updates, but offering space and outdoor room that newer infill lots often lack.

This property would suit someone who values physical space over turnkey condition: a buyer willing to invest in renovations, or someone who wants a large lot in a central neighbourhood without paying a premium for a fully updated house. It’s less ideal for someone seeking a move-in-ready home or a low-maintenance yard.

Five Possible FAQs

1. How does the assessed value compare to what I might actually pay?
The assessed value of $212,000 is a baseline used for property taxes, not a market estimate. On this street, values cluster around $210,000, but the home’s larger living area and lot could push the sale price higher, especially if multiple buyers see the land as the primary asset.

2. What does the land size mean for this neighbourhood?
At 5,137 square feet, this lot is roughly 43% larger than the West Alexander average. That could allow for a garage, a sizable garden, or future redevelopment—but check local zoning and setback rules before assuming you can subdivide or build a secondary unit.

3. Is the 1907 construction a concern for insurance or renovations?
Homes this old often have knob-and-tube wiring, lead pipes, or asbestos in older insulation and flooring. Some insurers charge higher premiums or require an electrical update. A pre-purchase inspection by someone familiar with historic homes is strongly recommended.

4. How does the year built ranking impact resale value?
The home is among the older 20% on its street and older than most citywide, which can be a double-edged sword. Character and solid construction attract some buyers, but the age also means higher ongoing maintenance. In this price range, the lot and location matter more than the build year.

5. Why is the citywide assessed value rank so low (top 90%)?
The $212,000 assessment is roughly 54% of the Winnipeg median for comparable homes ($390,100). This reflects the property’s age, location in a denser central neighbourhood, and possibly the condition of the home. For a buyer, it means lower property taxes and a lower entry price, but it may also signal that the house needs significant work to reach market expectations.