Property Overview

This one-storey home at 553 Bannerman Avenue presents a practical and affordable entry point into Winnipeg’s Inkster-Faraday neighbourhood. Its key appeal lies in its balance of a renovated basement, a detached garage, and a lot size that is above average for the immediate area. At 848 sqft, the living space is compact, placing it below the citywide average, which suggests a focus on efficiency over expansiveness. The 1950 build date is notably newer than many homes in the neighbourhood, potentially implying fewer concerns with the very old infrastructure common in the area. The assessed value is strong for the local context, ranking well above the neighbourhood average, which often reflects solid fundamentals and can be a positive indicator for municipal tax comparisons.

This property would suit first-time buyers or pragmatic investors looking for a straightforward, low-maintenance footprint. Its size and layout are well-matched to individuals, couples, or small families who prioritize function and location over square footage. The renovated basement adds valuable flexible space for a utility room, storage, or a simple rec area. A thoughtful perspective for a buyer is to see the smaller main floor not as a limitation, but as a driver of lower utility costs and less upkeep, freeing up resources for personalization or savings. Its above-average standing in the neighbourhood for value, lot size, and year built indicates a property that holds its own locally, even if it’s more modest by broader city standards.

Frequently Asked Questions

1. How does the property’s size compare to others?
At 848 square feet, the living area is below the Winnipeg city average but is relatively typical for Bannerman Avenue. The home offers a compact, efficient layout.

2. What does the assessed value tell me?
The assessed value of $24,300 is above the average for the Inkster-Faraday neighbourhood, which can signal that the property is in reasonable condition relative to nearby homes, though it remains below the citywide average.

3. Is the lot a good size?
Yes. The lot is just over 4,100 sqft, which is larger than many in the neighbourhood and provides decent outdoor space for a home of this size.

4. What are the implications of the 1950 build year?
Built in 1950, this home is newer than most in Inkster-Faraday. This can be an advantage, potentially meaning updates to core systems have already been addressed or that major age-related issues are less imminent than with much older, pre-war homes.

5. What type of buyer is this best for?
It’s an ideal fit for a first-time homebuyer or an investor seeking an affordable, no-frills property with a renovated basement and detached garage. Its efficient size appeals to those looking to minimize maintenance and utility expenses.