871 Bannatyne Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a large, older home on an above-average lot in Winnipeg’s West Alexander neighbourhood. The living area is 2,249 square feet—placing it in the top 4% on its street and in the neighbourhood, and the top 6% citywide. That’s roughly double the average living space of nearby comparable homes. The land is 5,137 square feet, also well above the street and neighbourhood averages, though closer to the middle of the pack across the city.

The assessed value is $324,000. That’s significantly higher than the street average ($210,600) and neighbourhood average ($187,300), but well below the citywide average for comparable homes ($390,100). This suggests the property is seen as high-value locally, but relatively affordable compared to newer or more central homes across Winnipeg.

The house was built in 1907. That makes it older than most homes on its street (average 1941) and much older than the citywide average (1966). Age isn’t necessarily a drawback here—it’s a feature for certain buyers.

Who this suits: Buyers looking for space, both inside and out, who are comfortable with an older home. That could mean someone interested in character, renovation potential, or simply more square footage per dollar than a newer build would offer. It may not appeal to someone wanting a turnkey modern home or a compact, low-maintenance property. The land size also opens up possibilities for gardening, expansion, or outdoor living that smaller lots don’t allow. One less obvious angle: the assessed value gap between local and citywide figures hints that this property may be undervalued relative to what similar square footage would cost in other parts of Winnipeg.

Five Possible FAQs

1. How does the assessed value compare to what I might actually pay?
Assessed value is a municipal estimate for tax purposes, not a market price. In this case, the assessment is well above local averages but below the citywide average for comparable homes. That suggests the market value could land somewhere between those figures, depending on condition, updates, and demand in West Alexander.

2. Is a 1907 home likely to have major maintenance issues?
It depends on how the house has been maintained. Older homes can have outdated wiring, plumbing, insulation, or foundation work. That said, many homes from this era were built with high-quality materials. A thorough inspection is essential, but age alone doesn’t predict problems—neglect does.

3. Why is the living area so much larger than the neighbourhood average?
This home is part of an older stock where floor plans were often more generous. Many newer homes or infills in the area have smaller footprints. That’s why the property ranks in the top 4% locally, even though it may feel less unusual in a citywide context.

4. Does the large lot add practical value?
Yes, but in specific ways. A larger lot allows for additions, a garage, a workshop, or extensive landscaping. It also provides more privacy from neighbours. However, it also means more maintenance—mowing, snow removal, and upkeep. Not every buyer wants that, so the value depends on your lifestyle.

5. How does this property compare to newer homes in the same price range?
Newer homes in this price bracket in Winnipeg are typically smaller, on smaller lots, and often in more suburban or developing areas. This property offers more square footage and land, but with older systems and finishes. It’s a trade-off between space and age, not necessarily a better or worse value—just different priorities.