Property Summary: 1019 Alfred Avenue, Winnipeg
Key Characteristics & Appeal
This bi-level home at 1019 Alfred Avenue in Burrows Central presents a unique profile defined by its modern age and compact lot. Built in 2022, it is a strikingly new construction for the area, ranking in the top 1% for year built on its street, in the neighbourhood, and citywide. This offers a significant advantage in terms of modern building standards, energy efficiency, and freedom from major immediate repairs.
The appeal lies in its potential as a low-maintenance entry point into homeownership or as a strategic investment property. With 964 sqft of living space, it offers adequate room for a small household. The home features a basement (unrenovated) and does not include a garage or pool. Its assessed value is notably high for its immediate area, suggesting it is viewed as a premium asset on its street.
This property would best suit a pragmatic, value-conscious buyer. It’s ideal for a first-time buyer seeking a modern, "move-in-ready" home without the surprises of an older property, or for an investor looking for a newer build with potentially lower maintenance costs in a central Winnipeg neighbourhood. Its below-average citywide land size (2,276 sqft) means yard upkeep is minimal, aligning with a lock-and-leave or busy urban lifestyle.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value of $28.70k ranks in the top 4% on Alfred Avenue, largely due to the home being built in 2022. Assessors place a premium on new construction for its modern materials, systems, and expected longevity compared to the century-old homes that dominate the street.
2. What does "bi-level" mean for this home?
A bi-level typically means you enter on a middle landing, with stairs leading up to the main living areas and down to a lower level. This home has a basement, noted as unrenovated, which could offer future expansion space or utility storage.
3. Is the land size a disadvantage?
The lot is smaller than average, which limits expansive outdoor space but also reduces maintenance time and cost. For the right buyer, this is a practical feature rather than a drawback, emphasizing the home itself over the yard.
4. How does the sale history inform the current price?
The home sold for $32.50k in January 2023. This recent sale provides a concrete market benchmark, showing it commanded a price well above the street and neighbourhood average at that time, consistent with its status as a new build.
5. What are the less obvious considerations for a home this new in an older area?
Consider the long-term context: while the structure is new, property value will still be influenced by broader neighbourhood trends. The significant gap between its assessed value and the area norm is noteworthy. It ensures modern comfort but may not appreciate in the same way as a renovated character home or a property with a larger lot in a different area.