Property Overview & Key Characteristics

This 1953-built, one-storey home on Bannatyne Avenue W in Brooklands presents a straightforward opportunity centered on its land and location. The 1,050 sqft house sits on a notably large 5,150 sqft lot, which ranks within the top 15% for size on its street and the top 11% within the Brooklands neighbourhood. While the living space is modest and the basement is unrenovated, the property’s appeal lies in its above-average land footprint for the area and its practical, no-frills layout. It last sold in 2019 for $240k, a price point that was above average for the street but below the wider Winnipeg average at the time.

This home would suit a value-conscious buyer looking for a solid foundation—literally and figuratively. It’s a potential fit for a first-time homeowner comfortable with a property that may require updates, or for an investor interested in the long-term value of a large lot in a established neighbourhood. The numbers suggest you’re paying primarily for the land and location here, with the house itself offering functional space.

Frequently Asked Questions

1. What is the true value proposition of this property?
The value is anchored in the land. You are acquiring a lot size that is significantly larger than most in the immediate area, which could offer future potential (like expansion or landscaping) while providing a liveable house in the present.

2. How does the 2019 sale price of $240k relate to its current value?
The 2019 sale price serves as a recent benchmark. It was above the street average then, indicating a premium was paid, likely for the lot size. Current market conditions and any changes to the property since will determine present value.

3. The assessed value seems very low. Why is that?
Municipal assessed value for tax purposes is often much lower than market value and should not be used as a direct indicator of sale price. The assessment comparison shows that, citywide, this property’s assessment is below average, which may reflect its older age and modest improvements relative to the broader Winnipeg market.

4. What should I consider about the unrenovated basement?
An unrenovated basement means lower immediate costs were factored into the price, but it also requires a careful inspection for moisture, foundation integrity, and basic systems (like electrical and plumbing). It represents both a potential project and a blank canvas for future finished space.

5. How does this home compare to others in Brooklands?
Within Brooklands, this home has a larger-than-average lot and living area. However, it is older than the neighbourhood average. This positions it as a more traditional property in the area—offering more outdoor space but likely requiring more maintenance or updates than a newer build.