Property Overview: 965 Banning Street, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated two-and-a-half storey home in Daniel McIntyre offers solid space and established character. With 1,552 sqft of living area, it provides significantly more room than most homes on its street and in the neighbourhood, ranking in the top 15% locally. It sits on a standard city lot of just over 3,250 sqft. A key feature is its detached garage, adding practical storage or workshop space.

The appeal lies in its strong local standing and value proposition within a mature, central community. While its 1914 build date means it’s older than the citywide average, it is actually newer than many homes in its immediate area. The home presents as a functional canvas; it has a basement that is noted as not being renovated, suggesting an opportunity for customization. Its most compelling data point is its assessed value, which ranks in the elite top 5% for the Daniel McIntyre neighbourhood, indicating it is considered a higher-value asset in this specific market context.

This property would suit a practical buyer looking for a character home with above-average space in a central location. It’s ideal for someone comfortable with a home that may require updates (as hinted by the basement condition) but who values a large footprint, a detached garage, and a property that holds strong comparative value within its established community.

Section 2: Frequently Asked Questions

1. What does the "above average" and "elite" ranking for Assessed Value actually mean?
It means that relative to other homes on Banning Street and in the Daniel McIntyre neighbourhood, this property’s official assessed value is higher than most—in the top 5-6%. This often reflects factors like lot size, building size, and location within the area. It’s important to note this is a relative ranking within the neighbourhood; citywide, the assessment is more moderate.

2. The home was built in 1914. What should I consider?
While older, it’s actually a bit newer than the average home on its street. Buyers should budget for potential updates to older mechanical systems (like plumbing or wiring) and seek a thorough inspection. The character and build quality of a 1914 home can be a major draw, but maintenance history is key.

3. The basement is noted as "not renovated." What are the implications?
This typically indicates the basement is in a functional, utilitarian state. It likely has foundational systems exposed and may have older finishes. This isn’t necessarily a drawback—it provides a clean slate for future development, insulation, or customization without needing to first undo a previous renovation.

4. How does the recent sale price from July 2023 relate to the current assessed value?
The 2023 sale price of $34.50k was significantly higher than the current assessed value of $28.70k. This is not uncommon, as assessed values for taxation purposes can lag behind market sale prices. The sale price is a strong recent data point indicating what a buyer was willing to pay in the open market.

5. The living area is large for the area, but the lot size is described as "around average."
This suggests the home makes efficient use of its lot. You’re getting a house with more interior space than many neighbours, without requiring an exceptionally large property to maintain. This can be a desirable balance, offering ample living room while keeping yard work manageable.