Here is a clean, standalone summary of the property at 556 Bannatyne Avenue, designed for direct display on a webpage.

Key Characteristics & Buyer Profile

This is a detached home built in 1987, offering 1,422 square feet of living space on a 3,959-square-foot lot. Its defining feature is a clear disconnect between its assessed value and its physical size. On Bannatyne Avenue and in the West Alexander neighborhood, the home’s assessed value ranks very high (Top 20% on the street, Top 10% in the area), significantly outperforming local averages. However, its living area and lot size are only average or slightly above average by local standards.

The appeal lies in getting more house for your money relative to the immediate street and neighborhood, but not compared to the rest of Winnipeg. The 1987 build date is a standout—one of the newest homes on its street (Top 12%) and in the neighborhood (Top 6%), where the average home was built in the 1940s or 1920s. Citywide, the property’s assessed value is below average ($265K vs. a city average of $390K), making it a relative bargain for a newer, decently sized home in an older central area.

This property would suit a buyer who values a newer construction home in an established, older neighborhood without paying a premium for a large lot. It works well for someone who prefers modern building standards and lower maintenance over historic character, and who is less concerned with having a sprawling yard. It is less suitable for buyers seeking a big-city-comparative lot or top-tier square footage.

Five Possible FAQs

1. How does this home compare to others on the same street?
It outperforms most nearby homes in three key areas. It is newer (built in 1987 vs. the street average of 1941), has a higher assessed value ($265K vs. $210K average), and is slightly larger in living space (1,422 sqft vs. 1,150 sqft average). Its lot size is roughly in line with the street average.

2. Is this considered a good value citywide?
Not in terms of living area or lot size, but yes in terms of what you get for the price. The home is assessed $125K below the citywide average for comparable homes, yet it is significantly newer than most city properties (Top 25% for year built). You are paying less for a relatively modern home.

3. Why is the assessed value so high locally but low citywide?
West Alexander is a dense, older neighborhood where smaller, older homes are common. This property’s modern construction and above-average living space make it one of the higher-valued homes in that local context. Citywide, however, $265K is below the typical median, which includes larger, more expensive suburban houses.

4. What is the condition of a home built in 1987?
The data only covers year built, not condition. A well-maintained 1987 home will have functional modern systems, but major components (roof, furnace, windows, appliances) may need updating or have been replaced already. Buyers should verify the age of these items during a showing.

5. How does the lot size compare?
It is slightly above average for the neighborhood (3,959 sqft vs. 3,591 sqft), but well below the citywide average of 6,570 sqft. This is typical for an infill or newer home in an older, central Winnipeg neighborhood—you get a manageable yard, not a sprawling suburban lot.