Property Overview
This one-storey home on Alfred Avenue presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1912, it sits on a 3,003 sqft lot, which is a typical size for the immediate street and area. The 864 sqft living space is modest, and the home features an unrenovated basement and no garage. Its recent sale history and assessed value position it significantly below city-wide averages, highlighting its role as an entry-point property. The appeal here is fundamentally about value and potential, rather than move-in-ready finishes.
This home would suit a pragmatic first-time buyer, an investor looking for a rental property with a low entry cost, or someone seeking a land-value play in a central location. It’s for those comfortable with a project, whether that’s a gradual renovation or maintaining it as an affordable rental. A less obvious angle is its potential for someone needing a low-overhead base in the city, where equity building comes from time in the market rather from immediate, costly improvements.
Frequently Asked Questions
1. What does "unrenovated basement" typically mean for a home of this age?
It usually indicates the original state of the foundation, plumbing, and electrical systems. Expect a concrete floor, basic finishes, and likely the need for updates to meet modern insulation or moisture standards. It offers a blank canvas but requires thorough inspection.
2. How significant is the lack of a garage in this area?
Many older homes in central Winnipeg neighbourhoods do not have garages. On-street parking is common. For some buyers, this is a trade-off for the location and lot size, but it's a practical consideration for vehicle storage year-round.
3. The assessed value seems very low compared to the city average. Why?
The assessed value reflects the property's current state, size, and market position relative to similar homes. Its value is in line with older, smaller homes in Burrows Central but is far below the average for the entire city, which includes newer suburbs and larger, renovated properties.
4. Is the lot size a benefit?
At just over 3,000 sqft, the lot is average for the street but smaller than newer suburban lots. It provides adequate outdoor space for a home of this size but may not offer extensive room for major expansions, depending on local zoning bylaws.
5. What should I research about a 1912-built home?
Focus on the core systems: the condition of the foundation, roof, wiring, and plumbing. Homes of this era can be solidly built but will have aging components. A specialized pre-purchase inspection is highly recommended to understand the scope of any necessary updates.