941 Bannatyne Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1948 home in Winnipeg’s West Alexander neighbourhood with 1,104 sqft of living area on a notably large 6,535 sqft lot. The property’s standout feature is its land: it ranks in the top 1% on its street and top 2% in the area for lot size. The house itself is around average for living space compared to nearby homes, but its assessed value sits well above the street and neighbourhood averages—at $254,000 versus $210,600 and $187,300 respectively. Citywide, however, the value is below average, reflecting the older age of the home (1948 vs. a citywide median of 1966) and its modest square footage.
The appeal here is land and location value, not a turnkey interior. A buyer who sees potential in a generously sized lot in a neighbourhood with above-average property values—and who is willing to work with an older home—would be the natural fit. This could suit someone looking to renovate, build new in the future, or simply secure a larger yard than most infill lots offer. It is less likely to suit someone wanting a move-in-ready modern home or a compact, low-maintenance property.
Five Possible FAQs
1. How does this home’s assessed value compare to similar homes nearby, and why?
On Bannatyne Avenue, the assessed value ranks in the top 25%, and in the West Alexander neighbourhood it ranks in the top 13%. This is likely driven by the large lot—land value is a strong component of assessments in older neighbourhoods. The home itself is older and average-sized, so the building value is likely modest, but the land elevates the total.
2. Is the lot really as large as it sounds for this area?
Yes. At 6,535 sqft, the lot is nearly double the street average of 3,898 sqft and far above the neighbourhood average of 3,591 sqft. It ranks 3rd out of 334 homes on the same street. Citywide, it sits in the top 22%, which is solid but less exceptional because many newer suburban lots are bigger.
3. What does “average” living area mean in practice?
The home’s 1,104 sqft is slightly below the neighbourhood average (1,299 sqft) and citywide average (1,342 sqft). On its own street, it’s around the middle of the pack (top 40%). This means you get less indoor space than many nearby homes, but the trade-off is significantly more outdoor space.
4. How old is the home, and is that a concern?
Built in 1948, the home is older than the citywide median (1966) but newer than the average home in its neighbourhood (1921). Being a post-war build, it may have simpler construction than older pre-war homes, but buyers should still expect potential updates needed for electrical, plumbing, insulation, or foundation work.
5. Is this property a good investment compared to others on the street?
That depends on your goals. The assessed value already reflects the land’s strength, so you aren’t buying under market value. But large lots in areas with above-average assessed values tend to hold value well and offer redevelopment potential. If you intend to keep the existing home, the value growth will likely come from the land appreciating—not from the house itself.