1508 Bannatyne Avenue W – Property Summary
Key Characteristics & Buyer Profile
This 1,200-square-foot home built in 1921 sits on a notably large lot in the Weston neighbourhood of Winnipeg. The land is the standout feature: 4,244 square feet ranks in the top 18% locally and top 30% on the street, well above the neighbourhood average of 3,269 square feet. The living area is also above average for the area, though slightly below the citywide median. The assessed value of $189,000 sits below the citywide average of $390,100 and is roughly in line with the neighbourhood average of $184,700, making this a relatively affordable entry point into a mature, established part of the city.
The appeal lies in the land-to-price ratio. A lot this size in a central neighbourhood—especially one that predates most postwar subdivisions—is increasingly uncommon. The house itself is older and likely needs updating, but the value is in the property, not the finishings. This would suit a buyer who is comfortable with a renovation project, someone looking to add square footage or subdivide (pending city approvals), or an investor seeking long-term land appreciation in an area where homes are priced well below the city median. It may also appeal to someone who values a deep lot for gardening, parking, or a workshop, and is less concerned with a move-in-ready interior.
Five Possible FAQs
1. How does the age of the house affect its value and insurability?
The home was built in 1921, which puts it in the older segment of housing stock locally and citywide. Older homes can come with higher insurance premiums, especially for plumbing, electrical, or roof condition. They may also be subject to heritage or zoning restrictions if you’re considering major changes. But in this price range, the age is already priced in.
2. Is the assessed value of $189k realistic for this area?
Yes. The assessment is slightly below the street average and close to the neighbourhood average. Compared to the citywide average of $390k, it’s significantly lower, which reflects both the age of the home and the fact that Weston has not experienced the same price growth as some other Winnipeg neighbourhoods. It’s a fair baseline for a property that may need work.
3. What are the chances the lot can be subdivided or developed?
The land is larger than most nearby lots, but being in an older, established area means zoning, setback requirements, and service connections will be key. You’d need to check with the City of Winnipeg for specific R1 or RMU zoning. A lot of 4,244 square feet may meet minimums for a duplex or secondary suite, but this is not guaranteed. Don’t assume subdivision is possible without a professional review.
4. How does the living area compare to other homes in Weston?
It’s above average. The neighbourhood average is 936 square feet, so this home offers about 28% more space. However, the citywide average for comparable homes is 1,342 square feet, meaning it’s below the broader Winnipeg median. For the neighbourhood, it’s a reasonably sized home; for someone used to newer suburbs, it might feel compact.
5. What kind of buyer typically looks at a property like this?
Most often, it’s people who want into a central, mature neighbourhood but can’t afford a fully renovated home. That includes first-time buyers willing to do cosmetic work, contractors or flippers looking for a project, or long-term holders who see the land as the real asset. It’s less suited for someone wanting a turnkey single-family home with modern finishes.