Property Overview: 1056 Alfred Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in Burrows Central is defined by its substantial, above-average lot. With over 4,500 sqft of land, the property ranks in the top 7% for lot size on its street and the top 13% in the neighbourhood, offering a rare degree of outdoor space and potential in the area. Built in 1947, it is notably newer than many surrounding homes. The living space (912 sqft) is modest and typical for the locale, and the unfinished basement presents a blank canvas. Recent sale history shows significant appreciation, with the home selling for $230,000 in 2022, far above its 2019 sale price and its current $200,000 assessed value.
The primary appeal lies in the land itself—a large, valuable parcel in a mature neighbourhood. It suits a value-conscious buyer looking for a solid foundation, whether as a first home with room to grow, a long-term hold with land value potential, or a project for someone willing to renovate and finish spaces like the basement over time. It’s a practical choice for those who prioritize lot size over a move-in-ready finish.
Frequently Asked Questions
1. Is the large lot size a common feature in this area?
No. The data shows this property’s land area is significantly larger than most comparable homes on Alfred Avenue and in the broader Burrows Central neighbourhood, placing it in the top tier locally.
2. How does the year built compare to nearby homes?
Built in 1947, this home is considerably newer than the average for both its street and neighbourhood, which may suggest more modern construction materials and systems than many immediate comparables.
3. The assessed value is $200k, but it sold for $230k in 2022. What does this mean?
The assessed value is for municipal tax purposes and often lags behind market trends. The 2022 sale price is a stronger indicator of its recent market value, suggesting perceived worth above its official assessment.
4. What is the potential for expansion or adding a garage?
The large lot provides a clear advantage for potential expansions, additions, or adding a detached garage, subject to local zoning and permit approvals. The unfinished basement also offers straightforward potential to increase liveable space.
5. How does this home fit within the wider Winnipeg market?
While its features are above average for its specific street and neighbourhood, citywide comparisons show it has a more modest living area and assessed value. This highlights it as a locally competitive property offering good value within its community context, rather than a city-leading investment.