Key Characteristics & Buyer Profile

This property at 882 Bannatyne Avenue is a 1945-built home with 1,792 square feet of living space and a 4,152 square foot lot. What stands out most is the strong value proposition relative to its immediate surroundings. On its own street and within the West Alexander neighbourhood, the home ranks well above average for both living area and assessed value. The living area is significantly larger than the street average of 1,150 sqft, while the assessed value of $278,000 is well above the neighbourhood average of $187,300. This suggests you’re getting more space for your dollar than most nearby properties.

However, the picture shifts when compared citywide in Winnipeg. The home’s assessed value and year built fall below the city average, and the land area is notably smaller than typical Winnipeg properties. This isn’t a flaw, but it highlights a trade-off: the property is a strong relative performer within its specific area, not necessarily a broad market standout.

The appeal lies in the combination of generous interior space and a price that aligns with a local market, not a citywide premium. It would likely suit a buyer who values interior square footage over a large yard, and who is focused on the West Alexander neighbourhood rather than comparing the property to newer or larger-lot homes elsewhere in Winnipeg. This could be a good fit for someone wanting more room than typical nearby homes offer, without stepping up to a citywide price bracket.

Five Possible FAQs

1. How does the assessed value compare to what I might actually pay?
The assessed value of $278,000 is a benchmark used for property taxes, not a strict market price. On this street, it’s above the average assessed value of $210,600, which suggests the home is considered more valuable than many nearby. However, the citywide average assessed value is $390,100, so the property sits below that. Sale prices often differ from assessments, so you’d want to check recent comparable sales in West Alexander specifically.

2. The living area is large at 1,792 sqft—is that unusual for an older home?
It’s above average for both the street and the neighbourhood. Many homes in this area built in the 1940s are smaller, around 1,150 to 1,300 sqft. This property offers more interior space without a correspondingly larger lot, which is common for homes that may have been expanded or designed with a more efficient footprint.

3. Why is the land area considered below average citywide but above average locally?
Citywide, the average lot size in Winnipeg is about 6,570 sqft, so 4,152 sqft is smaller. But in West Alexander, the average lot is 3,591 sqft, so this lot is larger than most nearby. It’s a reminder that “small” is relative—within this neighbourhood, you’re getting a decent-sized yard, just not by broader suburban standards.

4. Is a home built in 1945 likely to need major updates?
The year built is around average for its street (1941) and newer than much of the neighbourhood (average 1921). Citywide, most homes are newer (1966 average), so this property is older by Winnipeg standards. That doesn’t automatically mean problems, but it does suggest checking the age of major systems like the roof, furnace, windows, and electrical. A 1945 build can be solid if maintained, but expect some quirks typical of older construction.

5. What does “Top 17%” or “Top 8%” actually mean here?
These rankings compare this home to all others in a group—street, neighbourhood, or city. For example, being in the top 17% for living area on Bannatyne Avenue means only about 16% of homes on that street are larger. The “Top 8%” for assessed value in West Alexander means it’s valued higher than 92% of homes in that neighbourhood. It’s a useful way to see how the property stacks up locally, but rankings shift depending on the comparison group.