Property Summary: 504 Bannatyne Avenue

Key Characteristics & Buyer Profile

This is a 1902-built home with 1,612 sq. ft. of living space on a 2,891 sq. ft. lot in Winnipeg's West Alexander neighbourhood. Its main strength is interior space: the living area ranks in the top 18% on its street and top 25% citywide, meaning it's noticeably roomier than most comparable homes. The assessed value of $249,000 is above average for the street and neighbourhood, but well below the citywide average—reflecting both the compact lot and the older housing stock common to this area. The lot itself is on the smaller side, which is typical for a historic inner-city property.

The appeal lies in getting more square footage for a relatively modest assessed price. Buyers likely to be interested include those who prioritize indoor space over yard size, appreciate older character homes (given the 1902 build), and are comfortable in a denser, more established part of the city. It may suit someone looking for a project—not necessarily a full renovation, but a home that may need updates typical of its era. The property sits in a neighbourhood where many homes are similarly aged, so the immediate context is consistent, but the living area stands out as larger than most neighbours'.

Five Frequently Asked Questions

1. How does the assessed value compare to similar homes nearby?
   The assessed value of $249,000 is above both the street average ($210,600) and the neighbourhood average ($187,300), but significantly below the citywide average for comparable homes ($390,100). This suggests the property is priced higher than its immediate neighbours, but lower than newer or larger homes elsewhere in Winnipeg.

2. Is a 1902 build a concern for maintenance or insurance?
   Older homes can come with quirks—aging plumbing, electrical, or foundation issues are possible. That said, many homes in West Alexander date from a similar period, so local contractors and insurers are familiar with the era. It’s worth a thorough inspection and checking with your insurer about any age-related surcharges or coverage limits.

3. How does the lot size affect usability?
   At 2,891 sq. ft., the lot is smaller than average for the street (3,898 sq. ft.) and well below the citywide average (6,570 sq. ft.). This limits outdoor space for gardening, expansion, or parking, but is typical for an urban infill property. It may appeal to buyers who prefer less yard maintenance.

4. What does the ranking data actually tell me?
   The rankings compare this property against a "comparable group" of similar homes (likely based on type and size). The living area ranks highly (top 18–25%), meaning it’s one of the larger homes in its peer group. The lot and year built rank low, which pulls the overall profile toward an older home on a smaller site—but with generous indoor space.

5. Is West Alexander a stable neighbourhood for resale?
   West Alexander is an established inner-city area with a mix of older houses and some newer infill. The assessed values here are generally below citywide averages, which can mean slower appreciation compared to growing suburbs. However, the neighbourhood’s proximity to downtown and mature tree-lined streets may appeal to buyers looking for character and convenience rather than rapid equity growth.